- During a Manhattan fundraiser, Kamala Harris promised to increase investments in the crypto industry if elected.
- Nate Geraci, President of ETF Store, expressed that empty promises from Harris won’t drive real change.
- Harris’ pro-crypto remarks have set her in opposition to Senator Warren, a staunch crypto critic.
Kamala Harris affirms her support for the crypto industry, promising increased investments and regulations designed to foster innovation if elected.
Kamala Harris Vows to Boost Crypto Investments
During a recent fundraiser at Cipriani Wall Street in Manhattan, US Presidential nominee Kamala Harris made her first notable pro-crypto statement of the election campaign. On Sunday, September 22, Harris promised to ramp up investments in artificial intelligence and the cryptocurrency sector if she secures the White House. She emphasized that her economic agenda will not only drive innovation but also focus on balanced regulations to protect both investors and consumers. Harris said: “I will bring together labor, small business founders, innovators, and major companies. We will partner to invest in America’s competitiveness and future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Reactions and Skepticism in the Crypto Community
Despite her promising rhetoric, Harris has faced criticism from key crypto industry figures for her previous inaction. Nate Geraci, President of ETF Store, criticized Harris for what he termed “empty promises,” asserting that substantive actions are needed rather than mere words. He tweeted, “Actions on digital assets…not words. Could take positive actions right now.” This skepticism comes even as Harris garners support from major crypto advocates like Anthony Scaramucci.
Political Clash: Harris vs. Senator Warren
Harris’ support for the crypto industry places her in direct opposition to Massachusetts Senator Elizabeth Warren, a vocal critic of cryptocurrency. Warren has consistently targeted crypto-friendly institutions and is seen as a central figure in what’s been termed ‘Operation Choke Point 2.0,’ aimed at throttling crypto innovation. Recently, industry veterans have blamed Warren for the collapse of Silvergate Bank, attributing it to her lobbying efforts against pro-crypto banks. As per crypto analyst Nic Carter, Warren has been leveraging crises to advance her anti-crypto agenda.
Caitlin Long’s Stand Against Regulatory Pressures
Caitlin Long, CEO of Custodia Bank, disclosed that the regulatory pressures orchestrated by Warren’s faction have led to the closure or scaling back of every crypto-focused bank except Custodia. Long highlighted the resilience of Custodia Bank in maintaining its operations amidst these pressures, signifying the adverse regulatory environment fostered by Warren’s policies.
The Future of the Crypto Landscape
Coinbase’s chief policy officer, Faryar Shirzad, opined that Harris’ pro-crypto remarks could signal a shift away from the “mindless and destructive multi-year war against US innovation” attributed to the Biden/Warren era. He believes Harris’ statements signify a potential change in the regulatory approach to fostering technological advancement in the crypto space.
Conclusion
In summary, Kamala Harris’ commitment to bolstering the crypto industry marks a significant divergence from Senator Warren’s stringent anti-crypto stance. While Harris’ promise has sparked hope and optimism among crypto enthusiasts, it remains to be seen whether these words will translate into tangible actions. As a pivotal figure in the upcoming elections, Harris’ stance could indeed reshape the regulatory and investment landscape for cryptocurrencies in the United States.
