Kamala Harris vows to support crypto growth at New York fundraiser to run for US president

Kamala Harris has made a rare public endorsement of the cryptocurrency industry, promising to encourage its growth if she wins the presidency in 2024.

Speaking at a high-profile fundraising event in New York City, the U.S. vice president emphasised the role of emerging technologies in economic development.

She stated her intention to foster innovation, job creation, and collaboration between businesses, innovators, and labour organisations.

Harris specifically mentioned digital assets and artificial intelligence as key areas of focus, marking her first public commentary on cryptocurrency while campaigning.

Harris's economic policy area is broader

As the 2024 election approaches, both Harris and her Republican opponent, Donald Trump, have taken distinct positions regarding cryptocurrency regulation.

Trump has been more vocal on the issue, openly criticising the current regulatory framework. He pledged to dismiss the Securities and Exchange Commission’s (SEC) Chairman Gary Gensler and introduce clearer guidelines for stablecoins.

Trump also committed to expanding U.S. leadership in crypto, advocating for the right of Americans to mine Bitcoin.

In contrast, Harris’s remarks were broader, highlighting economic policies that include investment in semiconductors, clean energy, and streamlining regulations. These form part of her "opportunity economy" platform, aimed at fostering a more business-friendly environment in the U.S.

related reading：Harris Endorses Biden’s 44.6% Capital Gains Tax Proposal

Uncertainty Surrounding Harris’ Crypto Stance

Despite Harris's reference to digital assets, there remains uncertainty about her specific policy direction for the crypto sector.

Oliver Linch, CEO of Bittrex Global, speculated that Harris may continue with the current administration’s policies, which have leaned towards stricter regulation. Linch noted the unlikelihood of her removing Gensler from his position, given his influence and current role.

He also pointed out that support for cryptocurrency is growing within the Democratic Party, citing figures such as former Speaker Nancy Pelosi. However, Linch cautioned against oversimplifying the political divide on crypto policy, noting that both parties are developing nuanced positions.

Harris campaign raises far more money than Trump

The fundraising event, attended by notable Democratic officials, including Governor Kathy Hochul and Senate Majority Leader Chuck Schumer, provided a significant financial boost to Harris’s campaign.

Harris’s campaign has raised more funds than Trump’s in recent months, with her campaign, the Democratic National Committee, and state parties raising $361 million in August. This figure far exceeds the $130 million raised by Trump and the Republican Party in the same period.

related reading：Trump will refuse to participate in third debate after being defeated by Harris in second debate