Zinger Key Points
- Crypto influencer Ansem slams the current administration's crypto regulatory efforts as inadequate and harmful to the industry.
- Vice President Harris's crypto framework faces scepticism ahead of the presidential election.
Popular cryptocurrency influencer Ansem on Tuesday voiced strong criticism of the current administration's handling of cryptocurrency regulation in light of Kamala Harris’s outreach to Black voters over cryptocurrency.
What Happened: The influencer took to his X handle to express disappointment and criticized the lack of due diligence in crypto regulation, calling Harris’s latest proposal “embarrassing and frankly shameful.”
He pointed out the irreversible damage already done to the industry through actions such as operation chokepoint 2.0, criminal actions against crypto-friendly banks like Silvergate, and the veto of SAB121 repeal.
Ansem further criticized the lack of meaningful regulation around stablecoins or crypto securities laws and the continued presence of SEC Chairman Gary Gensler, whom he sees overly aggressive and negatively biased towards crypto.
Also Read: Trump Falls 3 Points Behind Harris In New Poll, Economic Worries Dominate Voter Concerns: Report
Why It Matters: Harris' proposal, released less than a month before the presidential election, acknowledges the growing importance of cryptocurrencies among Black Americans. The rebuttal from one of the space’s most influential opinion leaders suggests that the administration’s approach is not by all seen as a step in the right direction.
In a recent exchange on X between entrepreneur Mark Cuban and a crypto enthusiast, the entrepreneur provided insights into his discussions with Harris's team about crypto policy.
Cuban, an influential backer of Kamala Harris, went against the industry’s consensus by suggesting the Vice President’s grasp of cryptocurrency-related questions is “night and day away from Biden and far ahead of Trump.”
What’s Next: The fallout of the election and its consequences for the industry is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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