Vice President Kamala Harris is planning to support policies that promote growth in the crypto and digital asset sectors while ensuring consumer protection, according to a Bloomberg report citing a senior campaign adviser. Harris’ stance seeks to appeal to the rising political influence of the crypto industry.
During a roundtable at the Democratic National Convention, senior policy adviser Brian Nelson shared that Harris will back policies fostering the development of emerging technologies, with emphasis on the need for clear rules that support industry expansion. This approach aims to balance innovation with necessary safeguards, particularly in light of past scandals, such as the collapse of FTX and its founder’s imprisonment.
Harris also stressed the importance of cutting bureaucracy and reducing regulatory barriers, advocating for a stable, transparent business environment that encourages technological growth. The crypto industry has been frustrated with what it sees as restrictive regulations from the current administration, while Harris’ opponent, Donald Trump, promises a more crypto-friendly approach.
Trump’s proposals include replacing SEC Chair Gary Gensler and establishing a stablecoin framework to boost US dollar dominance. While his crypto policies have attracted support from prominent industry figures, critics warn his economic plans, such as broad tariffs, could increase inflation and disrupt global trade, negatively affecting crypto markets.
Harris, in contrast, aims to create a more stable economic environment. Her team faces the challenge of defining a policy agenda that supports crypto industry growth while maintaining consumer safeguards, as economic issues continue to play a key role in the upcoming election.
