As a long-time crypto investor and observer of political developments in the space, I find myself growing increasingly concerned about the mixed signals coming from the White House regarding cryptocurrencies. While US Vice President Kamala Harris has reportedly been considering Michigan Senator Gary Peters as her potential running mate for the 2024 elections, Peters’ anti-crypto stance raises red flags for those of us in the crypto community.
1. While allegations have emerged suggesting that U.S. President Kamala Harris is endeavoring to reconcile with the cryptocurrency sector, her actions seem to be at odds with her public statements. According to a recent report from Axios, Senator Gary Peters of Michigan, who has expressed anti-crypto sentiments, is being considered as a potential running mate for President Harris in 2024.
Kamala Harris to Appoint Anti-Crypto Senator
1. With a significant victory for the Democratic Party in Michigan at stake during the forthcoming U.S. elections, Kamala Harris is contemplating Gary Peters as a potential ally.
In terms of cryptocurrency stance, Peter advocates strongly against it due to his backing of the Money Laundering Act of 2023, which emphasized the role of cryptocurrencies in illicit activities such as terror funding. In a statement, he expressed concern about the financing of militant organizations and urged the Administration to disclose more information on their plan to prohibit crypto from being used for terrorism financing.
According to Axios, Peters is gaining backing from Democratic colleagues as he works towards maintaining their party’s majority in 2022, despite significant challenges posed by the Republican opposition.
Kamala Harris has not made it clear where she stands on cryptocurrencies since being nominated as the Democratic candidate for president. Cryptocurrency experts have cautioned Harris against the Democratic Party’s previously expressed opposition to digital currencies.
Mike Novogratz, the chairperson of Galaxy Digital, has cautioned Harris against the potential threats posed by Senator Elizabeth Warren towards the crypto industry through regulatory measures. Meanwhile, XRP attorney John Deaton, who’s running against Warren in the upcoming elections, urges Harris to consider dismissing SEC Chair Gary Gensler due to his stance on cryptocurrencies.
Will Harris Walk The Talk?
1. The Biden administration is facing increased scrutiny following Donald Trump’s significant engagement with the cryptocurrency sector. Throughout his presidential campaign, Trump expressed numerous pro-cryptocurrency pledges, intending to enact them if elected as the next U.S. President. Notably, Trump has garnered substantial backing from seasoned crypto industry professionals and investors.
The Democratic Party is considering making a change in response to donor requests. Kamala Harris, the US Vice President, is expected to attend the crypto conference organized by Blockworks, which takes place from October 9 to 11.
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2024-07-30 09:08