A new advocacy group called “Crypto for Harris” has recently emerged to challenge the industry appeal of rival Donald Trump. The group is set to host a virtual town hall meeting next week in support of the Harris campaign and to promote fundraising efforts. Key speakers at the event include notable figures such as crypto advocate Mark Cuban, SkyBridge Capital founder Anthony Scaramucci, and Democratic members of the House of Representatives.
The Crypto for Harris group currently boasts around 50 members, with industry participants and policy experts leading the charge. CEO of Web3 marketing firm Snickerdoodle and group organizer, Jonathan Padilla, emphasized the need for the United States to maintain its position as a leader in blockchain and crypto technologies. He stated, “Groups like Crypto for Harris are dedicated to ensuring the right policies and conversations are in place to secure a positive outcome for the industry.”
North Carolina Congressman Wiley Nickel, slated to speak at the upcoming conference, expressed the importance of not ceding the crypto issue to Trump. He stressed the significance of fostering innovation while also safeguarding consumers. Nickel warned that turning crypto into a political battleground would only serve to hinder the progress of the United States in this rapidly evolving industry.
Recent additions to the Harris campaign include two former crypto advisers, David Plouffe and Gene Sperling. Plouffe, a former member of the Binance advisory board, and Sperling, a previous Ripple board member, bring valuable experience and insights to the team. Moe Vela, a former Biden adviser turned senior adviser at crypto firm Unicoin, expressed optimism about the potential of Harris and her running mate Tim Walz to offer a fresh start for the industry.
In contrast to Harris’ pro-crypto stance, Trump garnered support from crypto advocates and investors at the Bitcoin 2024 Conference with promises to retain U.S. government holdings and remove SEC chair Gary Gensler from his position. The absence of Harris at the event raised questions about her stance on the industry. Meanwhile, Senator Cynthia Lummis introduced legislation aimed at establishing a national cryptocurrency reserve, highlighting the differing approaches between the two parties.
Under Joe Biden’s administration, Democrats have largely taken an anti-crypto stance, with regulatory bodies like the SEC initiating lawsuits and enforcement actions against industry players. Senators such as Elizabeth Warren have been vocal critics of the crypto sector, advocating for strict regulations and even proposing a ban on certain crypto activities. Despite this, Harris currently holds a slight lead in the polls over Trump, while pro-crypto candidate Robert F. Kennedy Jr. trails behind with minimal support.
The emergence of the Crypto for Harris advocacy group signals a growing momentum in the push for blockchain and crypto-friendly policies within the Democratic camp. As the industry continues to evolve and expand, the choices made by political leaders will play a crucial role in shaping the future landscape of cryptocurrency regulation and innovation.
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