As the U.S. presidential race intensifies, blockchain technology and cryptocurrency regulations are in the spotlight. With the Democratic National Convention just weeks away, Kamala Harris faces pressure to clarify her stance on crypto.
Harris Avoids Bitcoin 2024
At the Bitcoin 2024 Conference in Nashville, which kicks off today, Republican candidate Donald Trump will headline a keynote speech. In contrast, Democratic frontrunner Kamala Harris will not attend the event, sparking criticism from influential figures in the crypto industry.
According to David Bailey, CEO of Bitcoin Magazine, the upcoming Democratic candidate Kamala Harris has chosen not to speak at the annual Bitcoin event. This decision has led prominent figures in the cryptocurrency community, including the event's organizer, to criticise Harris for missing the opportunity to "start mending fences."
Crypto Figures Criticise Harris
Tyler Winklevoss, co-founder of the Gemini Exchange, has openly criticised the Biden administration’s approach to cryptocurrency, describing it as a "war" on the industry. Winklevoss has also voiced dissatisfaction with SEC Chair Gary Gensler, calling for his removal and the cessation of certain SEC actions.
Before Harris's decision was announced, Winklevoss outlined demands for Harris, including firing Gensler and halting SEC enforcement actions against crypto entities.
Harris Seeks Advice from Mark Cuban
In a different development, Harris's team reportedly reached out to Mark Cuban, a prominent crypto supporter and Dallas Mavericks owner. Cuban mentioned this in an interview, suggesting that Harris might be more receptive to cryptocurrency matters than Biden.
Cuban speculates that Harris could be more open to discussing crypto and AI, based on recent interactions and a poll of his followers.
Backlash and Speculations
Harris’s absence from the Bitcoin conference has drawn criticism from the crypto community, especially from those aligned with Trump. Critics argue that Harris's avoidance of the event signifies a continuation of anti-crypto policies.
The SEC, under Gensler’s leadership, has imposed fines on platforms like Kraken and ConsenSys, contributing to the perception of a crackdown on crypto. Harris has yet to publicly share her views on cryptocurrency or participate in key legislative votes.
The Possible Outcome
Political observers suggest that a Harris presidency might result in a continuation of the current administration's cautious approach to crypto.
Alternative Perspectives
Conversely, some crypto advocates, like Anthony Scaramucci, argue that the crypto industry has benefited under Biden. Scaramucci acknowledges Biden’s slow approach but contrasts it with what he describes as Trump’s "impulsivity," favouring gradual reform over sudden changes.
Harris's current lack of engagement with the crypto sector may signal a continuation of the Biden administration's cautious stance, which some see as inadequate for addressing the rapidly evolving crypto landscape.
Sanya
Beincrypto
Cointelegraph