Kamala Harris Promises to Support Crypto in Surprising Campaign Shift

Vice President Kamala Harris has recently pledged to encourage investments in the cryptocurrency sector as part of her campaign strategy. Speaking at a donor event in New York City on September 22, she outlined her economic agenda, which includes support for innovations in artificial intelligence and digital assets while prioritising consumer and investor protections.

Harris Signals Shift in Democratic Stance on Crypto, Aiming for Growth and Regulation

Harris emphasised her intention to unite small business founders, innovators, and large corporations to “invest in America’s competitiveness, to invest in America’s future.” This marks her first public mention of crypto assets, highlighting a potential shift in the Democratic Party's stance on the industry.

This initiative signifies a departure from President Biden's administration, which has been characterised by stringent regulations and legal challenges against the crypto industry. A policy adviser for Harris indicated that while she aims to grow the digital assets sector, her approach will also involve implementing more regulations and safeguards.

Read more: Kamala Harris Pledges to Promote Crypto and AI Growth in Presidential Campaign

Scepticism Around Democratic Support

Despite these developments, some industry experts remain cautious. Uniswap founder Hayden Adams expressed doubts about the Democrats' overall impact on crypto, stating that past actions under Biden have not favoured the industry. He noted, however, that any positive acknowledgment of crypto is an improvement compared to previous administrations.

Republican Rivals Embrace Crypto

In contrast, Donald Trump has actively courted the crypto community, pledging to replace SEC Chair Gary Gensler with more industry-friendly regulators. He recently made headlines as the first former president to use Bitcoin as a payment method, purchasing burgers for supporters in New York.

Read more: Louisiana in the United States accepts Bitcoin payments, and Trump's use of BTC to buy burgers in New York has caused heated discussions

According to Polymarket’s election predictions, Harris currently leads with a 52% chance of winning, while Trump trails at 47%. Recent CBS News polling indicates that she holds a narrow advantage across several key battleground states.