Harris to Intensify Crypto Crackdown with Anti-Bitcoin Advisors

Vice President Kamala Harris is reportedly continuing her administration’s strict stance on cryptocurrency by working closely with two notable sceptics: Brian Deese and Bharat Ramamurti.

Deese’s Regulatory Approach

Brian Deese, former Director of the National Economic Council under President Biden, has been influential in crafting policies related to digital currencies. His blog post, published on January 27, 2023, titled “The Administration’s Roadmap to Mitigating Cryptocurrency’s Risks,” advocates for stringent measures to address the potential risks associated with cryptocurrencies. While the post acknowledged the role of financial innovation, it emphasised fraud prevention and risk management over the benefits of digital assets.

Ramamurti’s Regulatory Stance

Bharat Ramamurti, who worked alongside Deese at the National Economic Council and has a background in advocating for strict financial regulations, shares a similar sceptical view towards cryptocurrencies. Ramamurti’s previous work with Senator Elizabeth Warren, a vocal critic of digital assets, underscores his commitment to rigorous oversight of the financial markets.

The ongoing focus on stringent regulation may stifle innovation in the cryptocurrency sector. It is crucial for policymakers to balance regulatory measures with opportunities for technological advancement.