Sources close to Vice President Kamala Harris‘ campaign reveal that her team has begun to explore the cryptocurrency landscape as the 2024 presidential race heats up.
This move comes in the wake of President Biden’s decision not to seek reelection and his endorsement of Harris as the Democratic Party’s nominee.
An unnamed source, who engaged with a member of Harris’ campaign team, described the initial discussions as a “relatively high-level intro conversation.”
“My impression is they get that this matters. They want to have positions on it… they’re going to take their time,” the source told The Block.
This outreach by Harris’ team signifies a potential shift in the Democratic approach to cryptocurrency, which has been a contentious issue under the current administration.
Kristin Smith, CEO of the Blockchain Association, expressed optimism about this development, stating, “I think there’s really a fresh opportunity here for her to show leadership from the top of the Democratic party.”
The crypto industry’s political significance is underscored by Moe Vela, a former senior advisor to Biden, who emphasized, “From a political perspective, I think it’s absolutely imperative, I mean, it’s just foolish for either campaign not to recognize the political power of 75 plus million potential voters.”
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Why It Matters: Meanwhile, the Republican side sees former President Donald Trump positioning himself as pro-crypto, having pledged to end what he calls an “unlawful and un-American crackdown” on the U.S. crypto industry.
Sheila Warren, CEO of the Crypto Council for Innovation, offered insight into what a Harris presidency might mean for crypto: “She is carving a new path forward, and there is no reason to believe that crypto policy is not going to be a part of that.”
As the political landscape evolves, the cryptocurrency industry watches closely, with some key players already making significant donations to campaigns.
This heightened interest in crypto policy among presidential hopefuls reflects the growing importance of digital assets in the American financial and political ecosystem.
The intersection of politics and cryptocurrency will be a key topic at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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