By Mark Hunter
16 hours agoWed Jul 24 2024 08:14:13
Reading Time: 2 minutes
- Mark Cuban has suggested that Kamala Harris might be a stronger advocate for cryptocurrency and emerging tech than her predecessor
- Cuban has claimed that Harris will be more open to crypto and blockchain benefits if elected
- This potential stance has been seen as a reversal of the Biden administration’s position on cryptocurrency
Mark Cuban, the billionaire entrepreneur and Bitcoin enthusiast, has suggested that Democrat presidential replacement Kamala Harris might be a stronger advocate for cryptocurrency and emerging tech sectors than her predecessor if she is elected. Speaking on Tuesday, Cuban claimed that Harris, who is on the verge of accepting the party’s nomination in the wake of Joe Biden stepping down, will be more open to the benefits of crypto and blockchain. If so, this would represent a reversal in the position adopted by the Biden administration and would mean that both presidential candidates are at least open to crypto.
Harris Background May Favour Tech
Cuban was speaking to Politico when the subject of Harris’ approach to business came up:
The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service.
Although Harris has not publicly stated her stance on cryptocurrency, her background as a San Francisco-based politician ties her closely to Silicon Valley and the tech industry. This connection is seen as an advantage over President Joe Biden, whose administration has maintained a more cautious and sometimes hostile approach to digital assets.
The tech industry’s response to Harris’s candidacy remains to be seen. In the lead-up to Biden’s withdrawal from the presidential race due to age-related concerns, former president Donald Trump actively courted and gained the support of numerous tech leaders, including many prominent figures in the crypto sector; Trump will appear at the Nashville Bitcoin conference later this week where he will wade through the lies to hopefully include Bitcoin in his torturously long tirade against his perceived enemies.
Optimism on Both Sides
Despite the uncertainties, there is cautious optimism among industry advocates that a Harris presidency could mark a departure from the Biden administration’s anti-crypto policies. This shift could pave the way for a bipartisan consensus on creating a regulatory framework for digital assets.
It must be remembered, however, that there was much optimism following the appointment of Gary Gensler to chair of the Securities and Exchange Commission (SEC) given his previous lectures on blockchain, and look how that turned out.
As the presidential race progresses, the tech community will be watching closely to see if Harris can rally their support and offer a more favorable stance toward the burgeoning crypto and tech industries.
