Will Kamala Harris Sideline Senator Warren to Protect Crypto Industry?

by

As a seasoned researcher with a keen interest in both politics and technology, I find myself intrigued by the latest developments in the crypto industry, particularly Kamala Harris’ pro-crypto stance. Having closely followed the election campaigns and the evolving landscape of digital assets, it is refreshing to see a prominent figure like Harris express support for an industry that has been under scrutiny from some quarters.

At a fundraiser held at Cipriani Wall Street, New York City last Sunday, Kamala Harris, the U.S. Presidential nominee, pledged to enhance investments in the cryptocurrency sector if she wins the election. This appears to be her first affirmative statement regarding crypto during this campaign, as her fellow Democrats such as Senator Warren have been focusing on limiting crypto advancements.

Kamala Harris Supports Crypto Industry

During a presentation of her economic plans in New York City on September 22, Kamala Harris pledged to increase investments in artificial intelligence (AI) and cryptocurrency should she be elected president. She emphasized that this agenda would not only stimulate innovation but also implement careful regulations to safeguard both investors and consumers. According to a Bloomberg report, Harris stated:

As a researcher, I aim to foster collaborative partnerships between labor forces, small business pioneers, and industry leaders. Together, we’ll channel our investments towards bolstering America’s competitive edge and shaping its future. By nurturing groundbreaking technologies such as artificial intelligence (AI) and digital assets, we will simultaneously safeguard the interests of our consumers and investors.

The U.S. Vice President is receiving significant backing from key figures in the cryptocurrency sector as Anthony Scaramucci works on her crypto-related policies. In contrast, Kamala Harris’s rival has been more vocal about their support for cryptocurrencies. However, unlike her competitor, Harris hasn’t demonstrated much public action in this area. The President of ETF Store, Nate Geraci, pointed out that mere promises may not have a significant impact, suggesting instead that tangible actions would be more effective.

Actions on digital assets…

Not words.

Could take positive actions right now.

— Nate Geraci (@NateGeraci) September 22, 2024

Will the VP Go Against Senator Warren?

Massachusetts Senator Elizabeth Warren has been taking steps to limit advancements in the cryptocurrency sector by focusing on banks supportive of cryptocurrencies. Longtime figures in the crypto world attribute her actions for the recent bankruptcy filing of Silvergate Bank, and they assert that she is advocating on behalf of large market players. They also suggest that Senator Warren might be orchestrating a modern version of Operation Choke Point 2.0 under the Biden administration.

what actually happened:

Warren advocated for a bank rush against Silvergate, as she perceived it as a chance to disrupt a pro-cryptocurrency establishment following the collapse of FTX.

As a crypto investor, I’ve noticed that some of Warren’s recent comments seem to align with the perspectives put forth by Silvergate short-seller Cohodes. It’s essential to acknowledge that Cohodes himself did not refute the claim of having engaged in communication…

— nic carter (@nic__carter) September 21, 2024

The CEO of Custodia Bank, Caitlin Long, mentioned that there’s a pro-Warren faction within federal agencies who aimed to shut down all banks specializing in cryptocurrency. All crypto-related banks on the list have either been closed or reduced operations, except for Custodia Bank. Not only has Custodia survived this challenge, but it continues to persevere.

It’s intriguing to consider if Vice President Kamala Harris can step up and potentially overshadow Senator Warren, given her stance against cryptocurrency. According to Coinbase’s Chief Policy Officer Faryar Shirzad, this could be a significant development.

In Washington D.C., presidents often convey messages that can be positive or negative. It’s worth noting that Senator Warren played a significant role in financial regulations, leading to a prolonged and damaging conflict against American innovation over several years. The fact that Kamala Harris is emphasizing cryptocurrency suggests a clear shift – the era of destruction during the Biden-Warren tenure may be coming to an end. While we should continue pushing for more progress, her remarks today are significant and indicate a change that we should acknowledge.

Lawyer John Deaton, who’s running as a Republican in Massachusetts, is gearing up for a debate against Elizabeth Warren during the upcoming presidential election. The first debate between them is scheduled for October 15th.

Read More

2024-09-23 07:14