Crypto Backers Plan Fundraisers For VP Kamala Harris In These 8 Key Cities

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As a seasoned analyst with over two decades of experience in both traditional and decentralized finance, I find the recent developments surrounding Vice President Kamala Harris’ stance on digital assets intriguing.

Advocates within the cryptocurrency sector are said to be actively coordinating a series of at least eight fundraisers in significant American cities, aiming to strengthen Vice President Kamala Harris’s bid for the approaching election

Crypto Industry Seeks Change

Under the title “Crypto4Harris”, these happenings are scheduled for cities like Miami, Atlanta, Los Angeles, New York, Dallas, Chicago, San Francisco, and Philadelphia from late-September to early-October, as reported by Bloomberg

In simple terms, Amanda Wick, one of the organizers, explained to Bloomberg that these fundraisers are crucial in raising the visibility of the crypto industry within the Harris campaign. The main objective is to inspire the vice president to support more advantageous policies for the Decentralized Finance (DeFi) sector

During the tenure of the Biden administration, the cryptocurrency sector has come under increased examination, resulting in regulatory bodies such as the Securities and Exchange Commission (SEC) taking steps to enforce rules on various digital currency firms

Simultaneously, attempts in Congress to lighten the regulatory load for cryptocurrency businesses have hit a roadblock. Wick, representing the crypto community, expressed their general feelings by saying:

Our system frequently operates on a ‘purchase for participation’ basis, which is unfortunate, and many individuals within the cryptocurrency sector recognize this issue. However, they have been deterred from contributing due to four years of unfavorable policies under the Biden administration. They are hesitant until they see signs that Harris may change direction. Yet, there’s a substantial amount of financial resources and potential voters in the crypto market, eagerly waiting for such indications. We are putting extra effort into collaborating with the campaign to get some hint of a shift before it’s too late and those resources and votes are irretrievably lost

Will Harris Address Digital Asset Concerns In Future Speeches?

Although Democratic presidential candidate Kamala Harris hasn’t explicitly stated her views on cryptocurrencies, Donald Trump, the Republican nominee, has publicly pledged to support the crypto industry and proposed significant changes, such as dismissing SEC Chairman Gary Gensler

On the other hand, Harris’ campaign has been talking with key figures in the virtual asset sector, and a top advisor, Brian Nelson, has mentioned that Harris plans to back policies aimed at encouraging the industry’s expansion

Nelson stated that the Vice President intends to uphold policies that allow developing technologies to thrive further. He recognized the sector’s need for consistent regulations, or “guidelines,” which was a significant talking point in Harris’ recent campaign events

Although Harris’s stance is consistent with this, her methods stand in stark contrast to Trump’s discourse. While Trump has marketed himself as the “first crypto president,” his words suggest using Bitcoin as a means to tackle our colossal national debt estimated at around $35 trillion

In the end, Bloomberg pointed out that with fundraising efforts picking up speed, the digital asset community is growing increasingly hopeful regarding Harris’s possible shift toward favorable regulations

Will the Vice President discuss digital assets more explicitly in his upcoming speeches? However, it’s evident that his supporters are eager for a change in strategy when it comes to regulation, as they believe the current approach has been overly strict and not conducive to the industry’s growth

Crypto Backers Plan Fundraisers For VP Kamala Harris In These 8 Key Cities

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2024-09-05 18:13