While the "Crypto4Harris" campaign has been working hard to position Vice President Kamala Harris as a pro-crypto candidate, her recent policy decisions show no support for the cryptocurrency industry. Despite efforts to appeal to the crypto community, Harris's latest announcements make no mention of cryptocurrency. Meanwhile, New York Senator Chuck Schumer, who had previously promised crypto legislation by the end of the year, has backtracked on that commitment.
Crypto Legislation Takes a Back Seat
Fox Business journalist Eleanor Terrett reported that Senator Chuck Schumer, who had earlier pledged to introduce U.S. crypto legislation by year-end, has now deprioritized the issue. In a letter to Senate colleagues, Schumer made no mention of crypto legislation as a priority for the remaining months of Congress. This marks a stark departure from his previous statements, where he emphasized the importance of U.S. leadership in regulating cryptocurrencies.
During an August "Crypto for Harris" town hall meeting, Schumer warned, "We cannot afford to continue to sit on the sidelines, because then we risk crypto going overseas to lowest common denominator countries where there’ll be no regulation at all, and if we get nothing done, extremists win." He had voiced strong intentions to bring crypto legislation to the U.S. by the end of 2023, but his latest communication instead shifts focus toward artificial intelligence.
Kamala Harris Ignores Crypto in Her Policies
As Donald Trump pushes for pro-crypto policies in his presidential campaign, Kamala Harris's stance remains conspicuously absent. Pro-crypto Democratic figures like billionaire Mark Cuban have rallied around the "Crypto4Harris" campaign, and even Ripple co-founder Chris Larsen, along with 88 other executives, has endorsed Harris. However, despite this support, Harris has not included cryptocurrency in her policy agenda.
Despite accepting crypto donations via Coinbase, as reported by CoinGape last week, Harris's official campaign website has no mention of digital assets, crypto, or blockchain technology. Crypto lawyer MetaLawMan criticized this oversight, calling it a "bluff," and expressed little hope that Harris would change her position on the issue.
Trump Gains Ground as Harris Loses Support
Meanwhile, a New York Times report suggests that Kamala Harris is losing ground to Donald Trump, according to a recent nonpartisan national survey. With Trump taking the lead and actively promoting pro-crypto policies, he is gaining favor among the crypto community, while Harris's lack of engagement with the industry may be costing her support.
As the 2024 U.S. presidential race heats up, the contrast between Trump’s pro-crypto stance and Harris’s indifference could play a crucial role in swaying the growing base of crypto voters.
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