What is Biden's Vice President Kamala Harris' stance on cryptocurrencies?

Author: Thomas Carreras, DL News; Compiler: Felix, PANews

The on-chain prediction market Polymarket shows that in the prediction of the 2024 Democratic candidates, US Vice President Kamala Harris's chance of winning has risen to 42%, and Biden's chance of winning has dropped to 37%.

Although a White House spokesman denied that Biden was considering withdrawing from the campaign, the probability of Biden withdrawing from the campaign rose to 65%. At the same time, in the prediction of the winner of the presidential election, Vice President Harris's chance of winning rose to 16%, although there was a certain gap with Trump (61%), but it exceeded Biden (12%), second only to Trump.

The sudden rise of Vice President Harris has triggered speculation among crypto people. What is her position on cryptocurrency? Have you ever been involved in or expressed your views on the crypto field before? Here is the relevant information we have learned.

Harris became the first choice for the Democratic nomination after Biden performed poorly in the debate with Trump last week. The question of Harris's position on cryptocurrencies seems more urgent.

Although Biden vowed to continue his campaign, Harris did not publicly run for the 47th president of the United States. But according to Polymarket's forecast, Harris's presidential election victory rate has risen to 16% recently. Although there is a certain gap with Trump (61%), it has surpassed Biden (12%) and is second only to Trump.

At the same time, a Harris-themed meme coin called Kamala Horris has emerged. According to Coingecko data, the meme coin has risen by about 600% in the past week and soared by more than 1,500% in the past 30 days.

Given that the crypto industry has become a hot topic in this year's election and Harris's sudden rise, her position on cryptocurrencies seems to be extremely important.

The Biden administration has been hostile to the crypto industry, but Harris's position has been more elusive.

Harris has never taken an official position on cryptocurrencies or commented on the industry.

Financial disclosures show that neither Harris nor her husband, Douglas Emhoff, has ever been involved in the crypto field, preferring to invest in U.S. Treasuries and emerging markets.

It is worth mentioning that during the 2020 election, Harris did hire Ryan Montoya, the former chief technology officer of the Sacramento Kings basketball team (NBA basketball team), as her schedule director.

Under Montoya's leadership, the Sacramento Kings became the first team in the world to accept Bitcoin, according to Montoya's LinkedIn profile. The team has also mined Ethereum and launched an NFT series.

Montoya now works as an assistant to the president in the White House, but he is still responsible for his original schedule responsibilities. Therefore, Montoya is unlikely to have an impact on policy.

But Harris, who is from San Francisco, has close ties to the technology industry, according to a 2020 report by The New York Times. When she was nominated as vice president, it was seen as "good news" for Silicon Valley.

With the rise of cryptocurrency lobbying and Wall Street banks joining in on behalf of the industry, it may be "reasonable" for Harris to stand up in support of Bitcoin before the presidential campaign. Of course, Harris may also take the same attitude as Biden and adopt a suppressive policy against cryptocurrencies.