- Pro-Bitcoin advocate Nic Carter believes Vice President Kamala Harris can align with the crypto community by ending certain regulatory practices.
- He suggests a ten-point plan to help her gain support from digital asset enthusiasts.
- Nic Carter emphasizes the importance of Harris addressing regulatory issues including Choke Point 2.0.
Kamala Harris could gain strong backing from the crypto community if she implements strategic regulatory changes, starting with the cessation of Choke Point 2.0.
A Detailed Plan for Kamala Harris to Support Crypto
In his recent statements, venture capitalist Nic Carter outlined a precise action plan for Vice President Kamala Harris aimed at gaining support from the crypto community. According to Carter, Harris needs to adopt a clear stand by unequivocally ending Choke Point 2.0—a coordinated initiative by U.S. regulators to limit banking services to digital asset firms. Carter has long been an advocate for terminating this framework, arguing it hampers the growth of the crypto market.
Additional Regulatory Changes Suggested by Carter
Beyond ending Choke Point 2.0, Carter called for the repeal of the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). This echo’s an effort led by bipartisan members of Congress in early 2024. Carter also urged Harris to increase oversight of the SEC to reduce regulatory uncertainty, stop the harassment of Bitcoin miners, and show openness to stablecoin and market structure legislation. His comprehensive plan aims to foster a more transparent and favorable regulatory environment for cryptocurrencies.
The Political Importance of Crypto in the U.S. Elections
The growing importance of cryptocurrency in political discourse cannot be overstated. The stance candidates take on digital assets could significantly influence their chances in the upcoming U.S. elections. Independent candidate Robert F. Kennedy has already publicly disclosed that a significant portion of his wealth is invested in Bitcoin. Former President Donald Trump’s fundraising efforts have also reportedly garnered substantial crypto donations, demonstrating the increasing political clout of the crypto community.
Conclusion
Nic Carter’s suggestions provide Vice President Kamala Harris with a roadmap to potentially gain the support of the crypto community. If Harris adopts these measures, she could distinguish herself in a competitive electoral landscape where crypto policies are becoming increasingly pivotal. By addressing regulatory uncertainties and demonstrating openness to constructive crypto legislation, Harris could win over a vital demographic of voters focused on digital assets.
