According to a policy adviser to Kamala Harris, the US vice president and presidential candidate is open to a friendlier policy toward cryptocurrencies.
Speaking to Bloomberg during the Democratic National Convention in Chicago, Brian Nelson, a top adviser to the Harris campaign, stressed that Harris wants to support policies that stimulate the growth of the crypto industry.
Cryptocurrency is a major issue in the US presidential election
The growing influence of the cryptocurrency industry is playing an increasingly important role in the 2024 US presidential election. In addition to Kamala Harris, former candidate Robert F. Kennedy Jr. and former President Donald Trump have also indicated that they would seek favorable regulation of the sector if elected.
These stances have been positively received within the cryptocurrency community, leading to millions of dollars in crypto donations. The sector has expressed strong displeasure in recent years with the restrictive approach of the current Biden administration, which many see as hostile.
Stability and clarity for crypto industry
Nelson stressed that a potential Kamala Harris administration would seek to provide clear and stable regulations for the crypto industry. This clarity could significantly support crypto businesses and give the market a financial boost. At the same time, Harris wants to introduce safeguards to protect consumers, prompted by the recent large bankruptcies in the sector that have eroded the confidence of both users and investors.
It’s clear that political support for a regulated yet enabling environment for cryptocurrencies is growing, especially as the industry’s influence on the political landscape increases. For the crypto sector, this shift could mean more room for innovation and growth, without the heavy regulation currently being pursued by the Biden administration.
Crypto market volatility increases ahead of US elections
In the run-up to the US elections, the prices of many cryptocurrencies are extremely volatile. For example, Bitcoin (BTC) rose to $70,000 in the past thirty days, only to fall to $50,000. The Bitcoin price has since recovered to its current level of $60,850.
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Source: https://newsbit.nl/kamala-harris-open-voor-toegankelijker-cryptobeleid/
