Democratic Presidential candidate Kamala Harris is looking to position herself as a more crypto-friendly candidate for the 2024 presidential election by pledging to support the growth of AI and digital assets while ensuring consumer protection.
Focus on Technological Innovation
In a recent appearance at a Wall Street fundraiser in New York, U.S. Vice President Kamala Harris announced her administration’s intention to support the growth of digital assets and artificial intelligence (AI) if elected to the presidency. Harris highlighted the importance of fostering innovation while ensuring consumer protection.
Speaking at a Wall Street fundraiser in Manhattan on Sunday, Harris said,
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
This marks Harris' first public statement in favor of the crypto sector, setting her apart from the policies of President Joe Biden's administration, which some have criticized for its perceived opposition to digital assets.
Industry Outreach
Though Harris has yet to release a detailed policy plan on digital assets, reports suggest that her campaign is engaging with leaders from the crypto industry to rebuild ties between the sector and the Democratic Party. Her recent comments indicate a more open stance towards blockchain technologies and cryptocurrencies compared to the current administration.
Coinbase policy chief Faryar Shirzad said that Harris’ acknowledgment of digital assets signals “a clear message that the Biden/Warren era of destruction is over.”
Harris also emphasized the need to create a business environment with clear regulations. In her remarks, she outlined an agenda focused on reducing bureaucracy and fostering sectors such as semiconductors, clean energy, and digital assets.
A Stable Business Environment
Industry leaders have largely reacted positively to Harris’ comments. Hayden Adams, CEO of Uniswap Labs, described her statements as a positive indication of the administration’s attitude toward digital innovation.
Anthony Scaramucci, CEO of SkyBridge Capital, added, "Kamala means bitcoin in every language,” further emphasizing her potential impact on the crypto industry.
Commenting on Harris’s announcement, Rep. Wiley Nickel (D-N.C.) said,
“This new policy position puts her in line with House and Senate Democrats working to protect consumers and keep digital innovation in the United States.”
Strategic Counter to Trump
Harris’ comments also served as a strategic move to counter former President Donald Trump, who has made vocal appeals to the crypto community. Trump has positioned himself as an outspoken advocate for cryptocurrencies, aiming to win support from the industry ahead of the 2024 election. Harris’s focus on balancing innovation with regulation offers a contrasting approach, positioning her as both pro-crypto and consumer-focused.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
