Kamala Harris Unveils Policy Positions, Yet Bitcoin and Cryptocurrency Absent
September 9, 2024
After weeks of anticipation, Kamala Harris has unveiled a series of policy proposals for her potential presidential administration, and notably absent from the list are any mentions of Bitcoin or other cryptocurrencies.
On her official campaign website’s new Issues page, Harris outlines her commitment to supporting “American innovation and workers.” While she emphasizes backing the growth of the AI sector and nurturing “other cutting-edge industries of the future,” there is no direct reference to the crypto space.
Although some in the crypto community may interpret Harris’s focus on innovation as a subtle acknowledgment of the industry, she has not publicly addressed cryptocurrencies during her campaign. Throughout her political career, there is no record of her discussing crypto in any capacity.
Given the limited number of top-priority issues highlighted on her website, it would have been more surprising if Harris had included crypto among them. The Democratic Party’s comprehensive platform, released recently, also omitted any mention of cryptocurrencies.
Despite the lack of explicit support from Harris, the crypto industry has been actively lobbying to influence the political landscape. Pro-crypto super PACs, backed by major players like Coinbase, Ripple, and Andreesen Horowitz, have amassed substantial financial resources. One such PAC, Fairshake, has raised over $246 million during this election cycle, surpassing the fundraising of other influential groups.
This significant political spending has already made an impact, with Fairshake successfully thwarting a U.S. Senate candidate in California and planning substantial financial investments in multiple House and Senate races that could sway the balance of power in Congress.
Interestingly, there are indications that the Harris campaign may be shifting its stance on crypto, contrasting with President Joe Biden’s administration, which has been skeptical of the industry. While Harris herself has not publicly addressed the issue, reports suggest her staff has been making inquiries about cryptocurrencies, indicating a growing interest in understanding digital assets.
In contrast, former President Donald Trump, who previously dismissed Bitcoin as a “scam,” has recently adopted a more pro-crypto stance. He has pledged supportive policies for the industry and even hinted at a family crypto project, showcasing a notable shift in his position.
In conclusion, while Harris’s policy proposals do not explicitly address cryptocurrencies, the industry’s lobbying efforts and evolving political landscape suggest that digital assets are increasingly becoming a topic of interest and discussion among political figures.
This article was edited by Andrew Hayward.
