Recently, Vice President and Democratic nominee Kamala Harris revealed her long-anticipated position on the cryptocurrency sector. While some have criticized her approach as being somewhat “ambiguous,” several politicians have expressed a sense of “encouragement” regarding Bitcoin (BTC) and digital assets following her remarks.
VP Harris’ Crypto Statement “Inspires” US Congressman
On Sunday, the US Vice President recognized the crypto industry for the first time since launching her campaign. In her statement, Harris committed to enhancing America’s competitiveness and future by supporting innovative technologies such as Artificial Intelligence (AI) and digital assets.
Her comments ignited a debate surrounding her apparently vague perspective, which did not specify how her administration would support these industries. Nevertheless, many agreed that her statement represented a positive move for the sector and a constructive first step.
Democratic Congressman Ro Khanna shared his views on Harris’ recognition of crypto. The pro-crypto legislator expressed to Fox Business that he was “encouraged” by the Democratic nominee’s recent remarks.
As noted by Eleanor Terrett, Khanna implied that opposing BTC or the crypto industry was a futile effort, comparing it to battling against smartphones or computers. He views it as a contemporary store of value that requires “intelligent regulation,” a viewpoint he has articulated before.
You can’t oppose Bitcoin or crypto. It’s akin to saying I’m against the iPhone or the laptop. It’s merely a technology. Yes, we need intelligent regulation, but it’s a modern store of value in today’s payment system. For many young people, it’s the modern equivalent of gold.
Bitcoin is trading at $64,324 on the weekly chart. Source: BTCUSDT on TradingView
Is Harris’ Position Affected by Past Events?
VP Harris also addressed the industry on Wednesday in a speech to The Economic Club of Pittsburgh. The presidential hopeful pledged to maintain the US leadership in emerging technologies, including blockchain.
We will invest in biomanufacturing and aerospace, ensuring dominance in AI, quantum computing, blockchain, and other cutting-edge technologies.
If elected, Harris asserted that the United States would be “leading the world in the industries of the future, ensuring that America—not China—emerges victorious in the 21st-century competition.”
Additionally, the Democratic nominee’s campaign posted her economic plan on her website on Wednesday. The 80-page document mentioned digital assets only once, echoing sentiments similar to those expressed in her comments on Sunday.
The sole mention of digital assets in the Harris-Walz economic plan. Source: KamalaHarris.com
In the wake of her recent remarks, public sentiment about the US Vice President appears to be divided. Many feel her position continues to be “too ambiguous” for endorsement, asserting that it represents “more of the same.”
Others have raised significant questions about the language used by Harris, pondering the implications of phrases like “encouraging innovative technology” and noting parallels with the terminology employed by the Securities and Exchange Commission (SEC) over the years.
This backlash led the Super Politician Action Committee (PAC) Stand With Crypto (SWC) to revise Harris’ rating on its platform. Following her initial remarks, SWC assigned the US VP a B rating, deeming her “pro-crypto,” but it has now been updated to reflect no rating due to “insufficient information.”
Kamala Harris' crypto stance score. Source: Stand With Crypto
Ultimately, numerous crypto investors continue to advocate for a clearer and more detailed position from the presidential nominee, who currently leads the Polymarket prediction market with a 50% chance of winning, narrowly ahead of pro-industry Donald Trump’s 49% odds.
Featured Image from Unsplash.com, Chart from TradingView.com
