Crypto voters hope Kamala Harris addresses crypto in presidential debate

09/11/2024 05:22
Crypto voters hope Kamala Harris addresses crypto in presidential debate

Donald Trump is avowedly pro-crypto, but the industry is still waiting for Harris to clarify her position.

On Tuesday, Vice President Kamala Harris will debate former president Donald Trump for the first time as the political rivals compete for the presidency.

While most voters will use this as an opportunity to learn about Harris’ positions on a wide range of election issues, crypto voters are hoping the debate will force Harris to publicly acknowledge her position on cryptocurrency, which she has yet to disclose.

Harris’ economic positions have been broadly described as "pro-business, responsible business,” but it remains to be seen how the presidential nominee views the volatile cryptocurrency industry.

Trump has come out in unabashed support of the bitcoin community, headlining a prominent Bitcoin Conference this year, pledging to stop a central bank digital currency, and even promising to replace the current U.S. Securities and Exchange Commission Chair Gary Gensler. In contrast to this, Harris has chosen to stay reticent on digital assets.

While her campaign team has made overtures to the crypto industry – reportedly going so far as to speak to Coinbase, Circle, and Ripple Labs – there is ongoing ambiguity around her positions that brings concern to some, and sparks hope in others of a new future.

While the Biden-Harris administration has taken a strong regulatory cudgel to the crypto industry, some optimistic voices in the industry point out that Harris represents a fresh opportunity for Democrats to reset their position.

"The market will be watching closely for Kamala's policy cues in her debut debate, especially in contrast to Trump's clearer stance on lowering corporate taxes and raising tariffs, both of which are seen as inflationary," Tuesday's QCP Capital report said.

"While bitcoin is generally seen as the 'Trump trade' due to his vocal support for crypto, we believe the real surprise could come from Harris if she brings up crypto positively during her campaign," they added.

Read more --->