As a seasoned crypto investor with a keen eye for political nuances and a knack for navigating market trends, I find myself intrigued by Vice President Kamala Harris’s recent overtures towards the crypto industry. Having weathered numerous regulatory storms, I can appreciate the strategic maneuvering involved in this seemingly controversial move.
Reportedly, Vice President Kamala Harris is making efforts to rebuild her connection with the cryptocurrency sector, an action that some view as both tactical and contentious. This week, Congressman Ro Khanna from California is scheduled to organize a crucial gathering in Washington. The roundtable discussion aims to unite key figures from the crypto industry and political sphere.
Kamala Harris Campaign To Attend Ro Khanna’s Crypto Roundtable
A crypto discussion panel is set to include Democratic politicians, and additionally, members of Kamala Harris’ campaign are expected to participate, as reported by Eleanor Terrett of FOX News. This move signals a new effort from pro-cryptocurrency Democrats aimed at forging a new relationship with the industry, indicating a major shift in policy direction.
Kamala Harris’s effort to change her position on cryptocurrencies hasn’t been smooth sailing. Lately, Tennessee Senator Bill Hagerty has expressed significant doubts concerning Harris’s fresh approach. He articulated his thoughts by saying:
“Given the remarkable achievement of President Donald Trump at the Bitcoin conference in Nashville, it’s not surprising that Kamala Harris, on this and various other topics, seems to be changing her stance suddenly and dramatically in favor of cryptocurrencies.”
Additionally, Senator Hagerty voiced his criticism towards the Biden-Harris administration’s earlier policies concerning cryptocurrencies, labeling them as “excessively hostile to crypto technology and progress.” Moreover, he highlighted what appears to him as a discrepancy between Harris’s recent statements and the administration’s previous actions in this area.
As a crypto investor, I’ve unfortunately felt the impact of the Biden-Harris Administration’s anti-crypto and anti-innovation policies over the past three and a half years. These outdated policies have weighed heavily on our community’s growth and progress.
As stated by Hagerty, it’s unlikely that the crypto community, which he believes aligns with Republican values such as freedom and innovation, will be influenced by Harris’s recent change in stance. He pointed out the favorable response towards former President Trump at the Bitcoin Nashville 2024 event as a sign of the GOP’s solid support among cryptocurrency advocates. In essence, Hagerty argued that the Republican Party is deeply connected with the crypto world, and any attempts from Kamala Harris to alter this will prove unsuccessful.
Harris’ Win Odds Surge
Despite Hagerty’s criticism, the political trading market Polymarket has seen a shift in Harris’s favor. Over the past ten days, her odds have jumped by over 16%, while Trump’s odds have decreased by the same amount. Currently, Harris’s odds of winning stand at 43%, compared to Trump’s 55%, highlighting a tightening race.
In early July, Representative Ro Khanna (Democrat) convened a meeting focusing on cryptocurrency regulations. Attendees included Brad Garlinghouse, CEO of Ripple, and business magnate Mark Cuban, whom he specifically invited. Rep. Khanna appeared hopeful about the possible outcomes from these deliberations.
In his remarks, it was made clear that the gathering would pave the way for establishing a strong regulatory structure for cryptocurrencies within the U.S. Few specifics from the meeting have been shared so far, but Garlinghouse, Ripple’s CEO, commended Khanna on social media platforms. He referred to Khanna as an ‘outstanding’ figure who has actively shown interest in understanding and supporting the crypto sector.
The change in stance on cryptocurrency by the Harris campaign has sparked a range of responses among industry heavyweights. Tyler Winklevoss, a co-founder of Gemini, expressed reservations and suggested that Kamala Harris should dismiss Gary Gensler. He stated emphatically, “Actions speak louder than words. She should promptly remove Gary Gensler from his position, halt all SEC legal actions against reputable actors, and discontinue Operation Chokepoint 2.0.”
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2024-08-02 09:42