During the recent fundraiser at Cipriani Wall Street in Manhattan on Sunday, US Presidential nominee Kamala Harris vowed to grow investments in the crypto industry if elected. This is probably the first pro-crypto statement from Harris in this election campaign as her Democratic colleagues like Senator Warren continue to work on stifling crypto innovation.
Kamala Harris Supports Crypto Industry
While pitching her economic agenda to donors in New York City on Sunday, September 22, Kamala Harris has vowed to boost investments in artificial intelligence (AI) and crypto if elected to power at the White House. He also added that her economic agenda would help boost innovation along with focused regulations thereby protecting investors and consumers. As per the Bloomberg report, Harris said:
“I will bring together labor, small business founders and innovators and major companies. 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.”
The US Vice President is also getting major support from crypto industry players with Anthony Scaramucci working on her crypto policies. However, unlike her opponent, Kamala Harris hasn’t walked the talk when it comes to showing support for crypto. ETF Store President Nate Geraci stated that empty promises won’t do much of a difference. Instead, actions would help!
Actions on digital assets…
Not words.
Could take positive actions right now. https://t.co/GHFHZdeEai
— Nate Geraci (@NateGeraci) September 22, 2024
Will the VP Go Against Senator Warren?
Massachusetts Senator Elizabeth Warren has been working to throttle innovation in the crypto industry by targeting crypto-friendly banks. Crypto industry veterans also hold her responsible for the Silvergate Bank bankruptcy filed last week adding that how she’s lobbying for big market players. they also believe that Senator Warren has been the architect of Operation Choke Point 2.0 under the Biden administration.
what actually happened:
– Warren encouraged a bank run against Silvergate because she saw an opportunity to harass a pro-crypto institution after FTX collapsed
– Warren uses talking points dreamed up by Silvergate short seller Cohodes – Cohodes did not deny having contacted…
— nic carter (@nic__carter) September 21, 2024
Custodia Bank CEO Caitlin Long also wrote that he Warren faction within federal agencies attempted to shut down all crypto-focused banks. Every crypto-native bank on the list has either been closed or “voluntarily” scaled back, except for Custodia Bank. Custodia has survived and continues to fight.
Interstingly, it will be crucial to see whether Kamala Harris can take the batton and sideline Senator Warren with he anti-crypto agenda. Coinbase chief policy officer Faryar Shirzad said:
“In DC, Presidents send signals for good or for bad. Joe Biden, let it be known that Senator Warren controlled fin reg, so we had a mindless and destructive multi-year war against US innovation. Kamala Harris going out of her way to mention crypto should send a clear message that the Biden/Warren era of destruction is over. We should press for more, but her statement today means a lot and we should recognize that”.
XRP lawyer John Deaton, the Reublican nominee from Massdachutes is all set to take Elizabeth Warren in the upcoming presidential election. The first Deaton vs Warren debate will happen on October 15.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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