Categories: U.S. Regulation

Kamala Harris Advisor Says VP Open to Crypto: Bloomberg

SPRINGFIELD, VIRGINIA - JUNE 02: U.S. Vice President Kamala Harris speaks on gun violence during an event at John R. Lewis High School on June 2, 2023 in Springfield, Virginia. Vice President Harris spoke on the administration’s efforts to reduce gun violence to commemorate the National Gun Violence Awareness day. (Photo by Alex Wong/Getty Images)

Vice President Kamala Harris will support policies to foster the cryptocy industry, Bloomberg reported on Wednesday.

The comments from Brian Nelson, a senior campaign advisor on policy, came at a Bloomberg roundtable event hosted at the Democratic National Convention taking place in Chicago. The outlet asked Nelson about Harris and efforts to engage with the crypto community.

“She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow,” Nelson reportedly said. “Obviously, they’ve expressed that one of the things that they need are stable rules, rules of the road.”

His statements are the most direct acknowledgment of crypto yet from the Harris campaign, as the industry—and government regulation of it—has surged in prominence among crypto and business leaders ahead of the U.S. presidential election in November.

“This is the first official statement from the Harris campaign about crypto in any capacity, and it is a positive one,” wrote prominent crypto analyst Adam Cochrane. “Let’s acknowledge that’s a huge step.”

“I’ve been working hard to push for a reset on crypto, and am thrilled about this important policy statement,” added U.S. Rep. Wiley Nickel (D-NC).

Prior to the Bloomberg report, there had been scant details about what a possible Harris administration would do when it came to crypto regulation. Critics have linked her to the policies of President Joe Biden, which included ongoing enforcement actions by the U.S. Securities and Exchange Commission and its chair, Gary Gensler. The Republican Party, and former president Donald Trump, have meanwhile expressed strong support of crypto, railing against Gensler and his “war on crypto.”

In recent weeks, however, there have been signs of more engagement from the Democratic side. Sen. Chuck Schumer (D-NY), majority leader in the U.S. Senate, participated in a Crypto4Harris event last week, vowing to pass cryptocy legislation out of the Senate before the end of the year. “I believe Washington cannot just look away from crypto, stick our heads in the sand, and do nothing,” he said.

Billionaire and noted Bitcoin enthusiast Mark Cuban told Decrypt last month that the Harris campaign had contacted him with “multiple questions” about crypto, describing it as “a good sign.” The head of the Democratic National Committee, Jamie R. Harrison, also met with executives from Bitcoin mining firm Mining Digital earlier this month.

Terron Gold