Harris Shifts Campaign Focus to Support Crypto Innovation

The presidential hopeful outlined her economic strategy to donors in New York City on September 22, emphasizing her commitment to fostering innovation in artificial intelligence and cryptocurrency, while prioritizing regulations that safeguard consumers and investors.

The Democrat expressed her intention to unite small business founders, innovators, and large corporations to “invest in America’s competitiveness and future.”

For the first time publicly, she referenced crypto assets, as reported by Bloomberg:

“We will support innovative technologies like AI and digital assets while ensuring the protection of our consumers and investors.”

As reported by Reuters, Harris is expected to unveil a new set of economic policies this week.

Are Democrats Beneficial for Crypto?

This approach marks a shift from President Biden’s strategy, which has been characterized by numerous lawsuits and a tangled web of vague regulations concerning the crypto sector. One of Harris’s campaign policy advisers told Bloomberg that she aims to foster the growth of digital assets, albeit with a focus on increased regulations and protections for the industry.

Nevertheless, analysts have indicated that if the Democrats regain power, there may still be a continued crackdown and adversarial stance toward the crypto world. Uniswap founder Hayden Adams remarked that “[Joe] Biden has not been favorable for crypto, and actions will speak louder than words,” adding:

“However, any progress is still progress; it has to begin somewhere and should be welcomed. A positive stance on the technology is more than we experienced under Biden and Trump.”

Not everyone is convinced that a Democratic victory would favor the crypto realm.

Retardio.

Uniswap should not be trusted.

The only major crypto entity actively supporting Democrats, particularly Kamala Harris. It’s as if they want us to fail. https://t.co/huw76HRyQq

— Ryan Selkis (d/acc) (@twobitidiot) September 22, 2024

In April, the Securities and Exchange Commission (SEC) served a Wells notice indicating legal action against Uniswap.

ETF Store President Nate Geraci noted the irony of a crypto founder aligning with the Democrats.

Current state of crypto regulation in two tweets… pic.twitter.com/s4Owie9nzo

— Nate Geraci (@NateGeraci) September 23, 2024

Last week, CryptoPotato reported that Anthony Scaramucci, founder of SkyBridge Capital, is collaborating with Kamala Harris to formulate crypto policies for her campaign.

Trump Goes All-In on Crypto

Conversely, her Republican opponent, Donald Trump, has actively sought support from the crypto sector, vowing to dismiss SEC Chair Gary Gensler and appoint regulators aligned with industry interests.

Recently, he made history as the first former president to use Bitcoin as payment when he purchased hamburgers for supporters at a bar in New York.

According to Polymarket’s election prediction data, Harris currently holds a 52% lead over Trump, who trails at 47%. The latest CBS News polls indicate that the vice president has gained a slight edge across battleground states, leading Trump by 4 points nationally.