Democrats Launch 'Crypto for Harris' Campaign Amid Intensifying US Election Crypto Policy Debate

The 2024 U.S. presidential race has spotlighted cryptocurrency policy, with Vice President Kamala Harris and former President Donald Trump courting the industry’s 40 million American users. The Democratic advocacy group “Crypto for Harris” plans a virtual town hall featuring figures like Mark Cuban and Anthony Scaramucci to support Harris.

Engaging the Crypto Community

Jonathan Padilla, CEO of Web3 marketing firm Snickerdoodle and “Crypto for Harris” organiser, emphasised the need for U.S. leadership in blockchain technology. The group aims to ensure the right policies and discussions for a positive crypto future.

Private Meetings with Industry Leaders

Rep. Ro Khanna (D-Calif.) is organising a private meeting with leaders from Coinbase, Ripple, and Stellar to engage directly with the crypto sector. Harris’s campaign has also recruited former crypto advisers David Plouffe and Gene Sperling, signalling a commitment to crypto-friendly policies.

Contrasting Strategies

Rep. Wiley Nickel (D-N.C.) highlighted the party’s determination, saying, “We’re not giving this issue to Trump.” Trump, meanwhile, has raised over $20 million from the crypto industry, pledging to establish a government Bitcoin reserve and fire SEC Chairman Gary Gensler.

Crypto’s Growing Influence

Crypto policy has become central in the election, with both campaigns recognising the potential influence of crypto voters. Moe Vela, a former Biden adviser now with crypto firm Unicoin, defended Harris’s approach, valuing her engagement with industry experts over pandering for votes.

Diverse Opinions in the Crypto Community

The crypto community remains divided. Some support Trump’s deregulation promises, while others appreciate Harris’s nuanced policy development. BitMEX co-founder Arthur Hayes believes government actions, regardless of the candidate, will continue to benefit crypto through inflationary policies.