Democratic Senator Chuck Schumer, the majority leader in the US Senate, said he aims to pass bipartisan legislation supporting cryptocurrencies by the end of 2024 if Vice President Kamala Harris is elected president.

Speaking at a Crypto4Harris Town Hall meeting – a crypto advocacy group pushing for a “reset” of crypto policy during Harris’ presidential campaign – Schumer said lawmakers can no longer afford to ignore the issue when it comes to promoting crypto innovation in the United States.

“It is clear that the cryptocurrency industry is not just a passing trend but a transformative force in our economy and technology. To ensure that the United States remains a leader in this revolution, we need a comprehensive and forward-looking cryptocurrency policy that supports innovation while protecting consumers and maintaining financial stability. Our approach must be both pragmatic and wise, embracing the potential of digital assets while addressing the risks with clear and effective regulation.”

“We cannot continue to sit on the sidelines because we will push crypto offshore to countries with the lowest standards, where there will be no regulations at all.”

Senator Chuck Schumer

Noting the growing popularity and influence of cryptocurrencies over the past decade, Schumer suggested that the Harris administration would not necessarily be anti-crypto altogether. He said he would aim to pass pro-crypto legislation in the United States by the end of the year if Harris is elected president.

“I want to bring together members of both sides of the aisle in the Senate and create momentum so we can pass common-sense legislation that helps the United States maintain its position as the most innovative nation in the world.”

“Innovation is our guiding principle when it comes to AI or cryptocurrencies. Lawmakers need to put in place safeguards to protect cryptocurrency users, protect national security interests, and ensure cryptocurrencies cannot be exploited by bad actors.”

The Crypto4Harris event is one of the few efforts to promote a pro-crypto “reset” in Harris’ campaign. Since Harris has yet to clarify her stance on crypto policy, most experts assume she will inherit the Joe Biden administration’s approach to digital assets — one that is clearly hostile to crypto companies and institutions operating on U.S. soil.

Crypto4Harris comes as Republican candidate Donald Trump continues to try to woo cryptocurrency experts. The former president has made a promise to end “Joe Biden’s war on crypto” a cornerstone of his campaign.

Billionaire investor Mark Cuban criticized Trump and the Republican Party at the Crypto4Harris event, claiming they are only really interested in enriching themselves and the “elites” in the crypto industry.



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