A digital asset lobbying group supported by Coinbase, Stand With Crypto, has had to revise its crypto-friendly ranking of Democratic presidential contender Kamala Harris.
This organization, which maintains a platform that evaluates the extent of support U.S. politicians demonstrate towards crypto, previously labeled Harris as “Supports Crypto,” awarding her a “B” grade.
Group Considers Harris’ New York Comments Positive for Crypto
The ranking was influenced by remarks made by the Vice President on September 22 at a fundraiser in New York. During this event, she expressed her intention to promote innovative technologies, such as artificial intelligence and digital assets, and pledged to reduce unnecessary bureaucratic obstacles, a concern widely associated with crypto regulation in the U.S.
Stand With Crypto assessed her statement as “somewhat supportive” of the industry and upgraded Harris’ rating on its website, now granting her the second highest possible grade.
For reference, the same platform has rated Donald Trump with an “A,” indicating he is “strongly supportive” of digital assets. The Republican candidate has reportedly made at least 21 statements about crypto, while his Democratic rival has issued only one.
While Stand With Crypto celebrated the candidates addressing cryptocurrency as a positive outcome, many from the community believed Harris did not merit such a high rating.
Bitcoin advocate Wayne Vaughan stated that the Democratic candidate’s limited comments on crypto were “neutral.” He further criticized what he described as the Biden-Harris administration’s track record of apparent hostility towards crypto, suggesting that such a stance should have rated the VP an “F” at best.
Michael Cairo, an attorney at the crypto-oriented boutique firm Horizons Law and Consulting, condemned Stand With Crypto for “misusing” its influence and for implying that the 59-year-old California native endorsed the sector, while her track record only reflects “a vague statement about tech innovations.”
The backlash continued, with venture capitalist @HelpedHope alleging that the pro-crypto lobby group was appealing to both political parties to maintain some “negotiating leverage” should Harris secure victory in the upcoming November elections. He asserted that the Vice President’s ambiguous reference to “digital assets” could encompass anything from off-chain airline points to Central Bank Digital Currencies (CBDCs).
Vice President’s Crypto Rating Revised
The group’s executive director, Logan Dobson, took to X on September 25, noting that they had received substantial feedback on their scorecard and had subsequently adjusted it. He indicated that future evaluations granting full grades would necessitate significantly more information.
“If a candidate has made some statements but lacks sufficient information for a scorecard grade, you’ll see those statements on their page for transparency, but we will denote the candidate as ‘Needs more information.’”
This new scoring system can be observed on Harris’s profile on their website, which now indicates that there is “not enough information” about her position on crypto.
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