Harris' comments come at a time when the cryptocurrency industry is at a turning point. The industry has faced serious regulatory challenges under the Biden administration, and many see Biden's policies as detrimental to cryptocurrency innovation.
The Securities and Exchange Commission (SEC), led by Chairman Gary Gensler, has taken an aggressive stance against #cryptocurrency companies and filed several high-profile lawsuits; industry players, including major exchanges such as #Coinbase and #Gemini , have spent millions lobbying for clearer and more favorable regulation. Harris' speech outlined his vision for balancing innovation and consumer protection. We will create a safe business environment with consistent and transparent rules, she added. The vice president also emphasized the importance of investing in industries such as semiconductors and clean energy, positioning her administration as one that encourages innovation across many sectors. Finally, she pledged to cut "unnecessary bureaucracy" to spur economic growth and support emerging technologies.
In Harris' remarks have already garnered significant attention in the cryptocurrency market, prompting reactions from industry heavyweights, though Faryar Shirzad, Coinbase's director of policy, said her remarks were not as offensive as her Republican rival Donald Trump's, He praised Harris for recognizing the importance of innovation in #digital assets. "This is an important and constructive statement by Kamala Harris, Shirzad wrote on X's website. - "While it is not as forward-thinking as Donald Trump's specific and visionary stance, it is nonetheless noteworthy because she recognizes the importance of digital asset innovation on par with artificial intelligence.
Meanwhile, other industry leaders are cautiously optimistic but have called for a more detailed policy plan.
Jake Czerwinski, general counsel at cryptocurrency venture capital firm Variant, called Harris' comments progress but expressed concern about the potential impact of consumer protection promises.
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