- Kamala Harris will announce her support for a crypto regulatory framework, emphasizing its significance for Black Americans.
- Polls reveal that 21% of voters own digital assets and expect candidates to be knowledgeable about crypto.
- While Donald Trump is seen as more crypto-friendly, Harris may offer a more balanced regulatory approach than President Biden.
In a significant move for the cryptocurrency landscape, Kamala Harris, the Democratic presidential candidate and current U.S. Vice President, is poised to announce her support for a regulatory framework aimed at protecting crypto holders.
This announcement comes as Harris aims to resonate with Black voters, especially considering that more than 20% of Black Americans have invested in or currently own digital assets. The proposed regulations seek to create an environment that not only safeguards market participants but also fosters the growth of digital currencies.
Crypto’s Role in Economic Access
While Harris has previously touched on her “opportunity agenda,” her recent campaign speech in Erie, Pennsylvania, lacked specific references to digital assets or blockchain technology. This omission drew concern from supporters who view crypto as vital for financial inclusion. Her campaign seeks to gain support from Black men, acknowledging the role of digital currencies in broadening access for marginalized groups.
This comes at a time when former President Donald Trump has been vocal about his support for the the digital assets industry, having established a “bitcoin and crypto advisory council.” A recent poll conducted by Grayscale revealed that 77% of likely voters expect candidates to be well-versed in the digital assets space. Harris’s emerging position may resonate with constituents who view digital assets as crucial to financial freedom.
Contrasting Positions on Crypto
While Kamala Harris appears to take a more cautious stance on digital currency regulation compared to Trump, she is seen as friendlier than President Biden. According to Galaxy Research, Harris may present limited downside risk for the digital asset markets in a potential victory.
Conversely, Trump’s approach could unleash significant upside potential due to his hands-off regulatory stance. Analysts suggest that Bitcoin may thrive under either administration, although altcoins could experience volatility depending on Harris’s regulatory stance. As candidates continue to refine their policies, the debate surrounding the digital asset’s place in the economy remains a pressing issue for voters and investors alike.
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