The cryptocurrency industry is watching Vice President Kamala Harris closely as the 2024 U.S. presidential race heats up. Her stance on digital asset policy remains unclear, leaving industry leaders and advocates eager for guidance on future regulation.
Veronica McGregor, Chief Legal Officer at Exodus, urges caution against jumping to conclusions about Harris’s position. She emphasizes that it’s too early to expect definitive statements from her campaign. While some in the crypto community were disappointed by the absence of Harris or her representatives at a recent virtual event hosted by Crypto4Harris, McGregor believes it’s unreasonable to expect immediate engagement from a sitting vice president.
The crypto community has noted President Joe Biden’s recent veto of a resolution challenging SEC accounting guidelines, raising concerns about a potential continuation of a “hostile” crypto agenda under Harris. However, some are hopeful that the Democratic National Convention’s omission of digital assets from its platform might signal a shift towards a more favorable view of the industry.
In contrast to Harris’s unclear position, former President Donald Trump has made explicit pro-crypto promises, including support for Bitcoin mining.
McGregor acknowledges the political constraints on Harris as a sitting vice president, highlighting the challenges she faces in expressing strong opinions on controversial issues. She hopes to see signs 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,” a practice McGregor describes as “destructive.” She believes that clear communication from Harris’s campaign about recalibrating regulatory approaches would be beneficial to the crypto industry.
As the crypto community awaits clarity on future regulations, events like Benzinga’s Future of Digital Assets on November 19 gain increased significance. The industry is eager for direction and stability in the regulatory landscape, and Harris’s eventual stance on digital assets will likely have a significant impact on the future of cryptocurrency in the U.S.
