US Vice President and Democratic nominee Kamala Harris made headlines over the weekend as she acknowledged the crypto industry for the first time since her campaign started. This move, described as a “flip” by some, has sparked a discussion among industry members and the community, who appear to be split about her newly disclosed stance.
Harris, who has been heavily criticized for not disclosing her stance on digital assets after the Biden-Harris administration’s crackdown on the sector, finally addressed the issue at a Wall Street fundraiser event in Manhattan on Sunday. She pledged to invest in America’s future by encouraging investment in digital assets and artificial intelligence (AI), stating, “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.”
Furthermore, Harris promised to work on creating a clear, consistent, and transparent set of rules to foster a safe business environment for different industries in the US. This announcement was met with mixed reactions from the community, with some suggesting that her victory in November “may not be as bearish as the market thinks.”
QCP Capital, a crypto firm, noted that Harris’s remarks, combined with “macro tailwinds,” gave crypto a boost at the start of the week. This boost led to the flagship cryptocurrency’s price retesting the $64,000 resistance level on Monday, triggering almost $60 million in short liquidations, according to QCP.
Harris’s campaign had previously hinted at a closer relationship with the crypto industry, with indirect acceptance of donations in digital assets and endorsements from industry figures like Anthony Scaramucci, founder of SkyBridge Capital. Scaramucci announced at a panel at TOKEN2049 that they were collaborating with Harris to work on her campaign’s policies and distance the Democratic Party from industry foes like Senator Elizabeth Warren and Gary Gensler, Chairman of the US Securities and Exchange Commission.
Despite these efforts, Harris had not made her stance on the crypto industry clear until Sunday, leading to discussions within the community about the potential market implications. While some view her acknowledgment of crypto as a positive development, others criticize the lack of details on policies that could affect the industry.
Overall, the sentiment within the community appears to be split, with some cautiously optimistic about Harris’s stance on crypto and others calling for more clarity and transparency before fully supporting her. As the US presidential elections approach, the crypto industry will be closely watching Harris’s actions and statements to gauge the potential impact on the sector.