By Mark Hunter
3 hours agoFri Sep 27 2024 09:15:19
Reading Time: 2 minutes
- Kamala Harris has publicly supported blockchain and cryptocurrency for the first time during her campaign
- She has promised to make the U.S. a leader in blockchain and emerging technologies like AI and quantum computing
- Harris has highlighted the need for innovation while ensuring consumer protections in the growing crypto space
Vice President Kamala Harris has formally expressed support for cryptocurrency and blockchain technologies during a recent speech, ensuring that both US presidential candidates are publicly pro-crypto for the first time. Speaking at the Economic Club of Pittsburgh on September 25, Harris committed to ensuring that the U.S. leads in blockchain, AI, and other emerging technologies, emphasizing the need to balance innovation with consumer protections, a departure from the more cautious approach seen in the current administration. Harris’ pivot follows the Biden administration’s three-year war against the crypto space and opens up a new paradigm for the space.
Harris Promises Investment in Emerging Technologies
Harris has never been openly anti-crypto, but as Vice President, she has served in an administration that has been complicit in trying to kick it out of the U.S. Her comments that the U.S. would “invest in blockchain and AI to ensure the U.S. remains competitive globally” under her watch, therefore, are significant.
The administrative pivot is a welcome development for the crypto community, which has long been waiting for clarity from top policymakers. Venture capitalist Adam Cochran tweeted that this shift represented “progress” but noted it might not be enough to win over the full crypto crowd, while David Hoffman, CEO of Bankless, stated that Harris is “not as pro-crypto as Trump is, but she’s now *technically* pro crypto.”
Major Shift in Political Landscape
Harris’ confirmation comes after comments during a fundraiser earlier in the week where she also mentioned creating a safe and transparent regulatory environment for digital assets. Harris’ opponent in the race, Donald Trump, has vocally backed Bitcoin (as well as marketing another cryptocurrency), promising to make the U.S. a mining hub, although there are doubts over the truth of his feelings on the subject.
Nevertheless, both Kamala Harris and her opponent, Donald Trump, now publicly support blockchain and digital assets, marking a significant departure from the past decades when digital assets were widely associated with criminal activity. This is a major milestone for the cryptocurrency industry, which has been pushing for greater legitimacy in mainstream politics.
Having two presidential candidates who both embrace blockchain reflects the growing acknowledgement of the sector’s potential, moving away from the “dark web” narrative that has haunted crypto for years. With both candidates backing digital innovation, the future of crypto regulation could look much more progressive.
