As the 2024 U.S. presidential race gains momentum, the cryptocurrency industry is closely watching Vice President Kamala Harris for signals on her digital asset policy stance.
What Happened: The Democratic nominee’s position on crypto regulation remains unclear, leaving industry leaders and advocates eager for guidance.
Veronica McGregor, Chief Legal Officer at Exodus, cautioned against hasty judgments.
“While people want to saddle her with ownership of everything the Biden administration has done or not done with crypto, I don’t think that’s fair,” McGregor told Blockworks.
She emphasized the need for patience, given Harris’s nascent presidential campaign.
The crypto community’s attention was recently drawn to a virtual event hosted by Crypto4Harris, featuring prominent politicians and industry figures.
However, the absence of Harris or her representatives left some attendees disappointed.
McGregor defended this, stating, “Expecting on short notice to be able to get either the vice president or her folks on such a call right now, I think would be a pretty heavy lift.”
Despite growing Democratic support for crypto, President Joe Biden‘s recent veto of a resolution challenging SEC accounting guidelines has raised concerns.
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Nic Carter of Castle Island Ventures expressed skepticism, suggesting Harris might default to Biden’s “hostile” crypto agenda without clear policy statements.
In contrast, former President Donald Trump has made explicit pro-crypto promises, including support for Bitcoin BTC/USD mining.
McGregor noted the political constraints on Harris as a sitting vice president, saying, “It’s going to be difficult for a sitting vice president to sort of throw grenades the same way her opposition can.”
The Democratic National Convention, which began Monday in Chicago, did not include digital assets in its platform.
Some interpret this omission as a potential shift towards a more favorable view of the industry.
McGregor hopes for indications of “fostering innovation and technology in a responsible and appropriate way” from Harris’s campaign.
Industry leaders are particularly keen on seeing an end to “regulation by enforcement.” McGregor emphasized, “What would be helpful is if we heard from her campaign that…we are going to recalibrate and not do regulation by enforcement, because that practice is very destructive.”
What’s Next: As the crypto community seeks clarity on future regulations, events like Benzinga’s Future of Digital Assets on Nov. 19 gain increased importance.
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