VP Kamala Harris Vows To Boost Crypto Growth And Protect Investors If Elected US President

U.S. Vice President and Democratic nominee Kamala Harris has finally broken her silence on crypto amid her campaign for the United States presidency.

Speaking to donors at a fundraiser dinner in New York on Sunday, Harris outlined her economic agenda, including promoting the growth of crypto.

Harris Adds Crypto To Her Vision Of An “Opportunity Economy”

Vice President Kamala Harris has reportedly promised to be a crypto-friendly president if elected.

“To build that opportunity economy, I will bring together labor, small business, founders and innovators, and major companies. We will partner together to invest in America’s competitiveness, to invest in America’s future,” Harris told donors at a high-profile fundraiser on Sept. 22, according to a Bloomberg report. “We will encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road.”

This marks the first time Harris has made a public statement about crypto since she became the Democratic Party’s presidential frontrunner. The crypto sector has been anxiously waiting to see if the Vice president would depart from President Joe Biden’s approach, which was perceived by many as hostile to the nascent industry.

Her Republican opponent, former President Donald Trump, has also sought to woo support from the crypto industry, albeit much more resolutely.

Trump has publicly lambasted present regulations, promising to sack Securities and Exchange Commission chair Gary Gensler and create a clear framework for stablecoins. He recently bought burgers using Bitcoin (BTC) at a crypto-themed bar in New York City called PubKey and released more details on his family crypto project, World Liberty Financial.

On Sunday, Harris, meanwhile, pledged to streamline regulations and cut bureaucracy to form a business-friendly environment, as per the report.

Crypto Community Reacts

While Harris’ remark is not like the concrete and proactive positions taken by Trump, her acknowledgment of the importance of digital asset innovation sends “a clear message that the Biden/Warren era of destruction is over,” said Coinbase policy chief Faryar Shirzad.

Hayden Adams, CEO of Uniswap Labs, seemed to support Harris following her statement to donors.

Agree Biden has been terrible for crypto and tech

She is signaling her admin will approach it differently / be more pro innovation

Fine if you don’t believe it

Personally I think positive statement from sitting VP w/ 52% chance of being president (polymarket) is progress

— Hayden Adams (@haydenzadams) September 22, 2024

“Yes, Biden has been bad for crypto, and actions will speak louder than words, but progress is progress; it needs to start somewhere and should be encouraged,” Adams posited in an X post. “She is signaling her admin will approach it differently / be more pro-innovation.”

“Kamala means Bitcoin in every language,” said Anthony Scaramucci, founder and managing partner of SkyBridge Capital. 

Alexander Grieve, the government affairs vice president at venture firm Paradigm, hailed Harris’ remarks as “encouraging,” noting that “this should be the last anti-crypto administration” regardless of who emerges victorious in November.

The odds of Kamala winning the presidency rose tremendously as the fiery presidential debate with Trump earlier this month weakened his standing. Polymarket bettors are now giving Harris a 52% chance of victory against 47% odds for Trump.