The current president, Joe Biden, has taken a cautious stance towards the crypto industry and its regulations. In contrast, the new Democratic candidate, Kamala Harris, seems to be taking a different course by taking steps to improve the relationship between the industry and the US government.
Harris’ advisers have reached out to top firms in the crypto space in an effort to mend ties, fueling speculation about possible pro-crypto regulations in her administration.
Among the companies approached are well-known names such as crypto exchange Coinbase, blockchain developer Ripple Labs, and stablecoin provider Circle. While the exact contents of the discussions have not been made public, Harris as well as representatives from Coinbase and Ripple declined to comment. Advisors to Harris emphasize the importance of building a constructive relationship, which could lead to robust regulations to support the growth of the industry.
Donations from the crypto industry
A key reason for Harris to strengthen ties with blockchain companies is not only to drive innovation and growth within the industry, but also to garner support from sponsors.
The cryptocurrency community is a major source of donors and could provide significant support to Harris’ election. Her rival, Donald Trump, has long held a pro-crypto stance, which has earned him significant donations.
Much criticism of current government and crypto policy
Some crypto companies are hoping Harris will be more favorable to them, having felt undersupported by the Biden administration. As one crypto company executive put it:
“The fact that she is willing to listen is a big step forward. With Biden, you couldn’t even set up a meeting… This has led to people having a negative image of the Biden administration.”
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Source: https://newsbit.nl/kamala-harris-zet-deur-open-voor-crypto-bedrijven-in-verenigde-staten/
