Will Vice President Kamala Harris be supportive of crypto if she gets elected?
On Monday, that idea seemed a little less likely — for two reasons.
First of all, the Democratic Party unveiled its official platform on Monday during the Democratic National Convention in Chicago.
While the 92-page document made at least five references to artificial intelligence, it didn’t mention Bitcoin, crypto, digital assets or blockchain technology.
For comparison, former President Donald Trump’s official platform dedicated an entire section to the industry — promising protections for Bitcoin miners and to defend the right to self-custody digital assets.
“Those who listened to fence-sitters and apologists should again take this chance to recalibrate your perception on just how bad Kamala would be for crypto,” crypto attorney Gabriel Shapiro posted on X in response to the document.
Gensler for Treasury hubbub
The other hit came from a report from the Washington Reporter claiming that Harris is considering nominating Securities and Exchange Commission Chair Gary Gensler as Treasury secretary should she win in November.
Industry heavyweights have heavily criticised the SEC under Gensler, accusing it of “regulation by enforcement” and of failing to provide a clear regulatory framework for crypto companies.
However, commentators quickly noted that the story was based off of the commentary from unnamed Senate staffers — who are unlikely to be in the know about cabinet appointment decisions.
“I have a better chance of being named treasury secretary than Gensler does,” Sean Tuffy, a banking regulation expert and self-avowed crypto sceptic, posted on X.
Important opportunity
Harris took over from President Joe Biden as the presumptive Democratic nominee in the US presidential election almost a month ago.
For some members of the crypto industry, Harris’ candidacy signals an opportunity for Democrats to pivot away from the antagonism that has characterised the Biden administration.
That hope even prompted personalities such as billionaire Mark Cuban, hedge fund veteran Anthony Scaramucci, and Congressman Wiley Nickel to speak at a digital town hall organised by pro-Harris group Crypto4Harris earlier this month.
Tom Carreras writes about US markets for DL News. Got a tip about Bitcoin and Kamala Harris? Reach out at tcarreras@dlnews.com
