- The crypto industry received a boost following Kamala Harris’ support proclamation.
- Harris’ aide said she will support policies ensuring the crypto industry’s growth.
- Both Harris and Trump have promised to support crypto if elected.
The crypto industry received a boost following signals that Kamala Harris, the current U.S. Vice President and presidential candidate of the democratic party, will support crypto if elected President. That suggests that both presidential candidates for the upcoming election in the U.S. have shown support for crypto in the ongoing campaigns.
In a recent interview, a policy adviser to the Harris campaign stated that the presidential candidate would back measures to help digital assets grow. This statement underscores the efforts of politicians to connect with the emerging crypto industry, which is gaining influence in mainstream politics.
When asked about her effort to engage the crypto community, Brian Nelson, senior campaign adviser for policy for Harris’ campaign, said:
“She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow.”
Donald Trump was the first of the two candidates to openly express support for the crypto industry, despite past criticism of the technology. Trump’s stance on crypto has attracted several investors, particularly with his promise to reduce government regulation on the industry.
Notably, the crypto industry has become prominent in the current U.S. election cycle, with cryptocurrencies forming a significant part of the campaign spending. According to reports, 48% of campaign spending in the current cycle has come from crypto companies such as Coinbase and Ripple.
Most crypto supporters consider the developing events a win for the industry, hoping that whoever wins the election will fulfill their campaign promises and provide a conducive environment for crypto companies to operate.
Despite Nelson’s assurances, there are indications that the Harris team is still interested in implementing safeguards in the crypto industry. The campaign aide referenced Harris’ remarks in North Carolina, where the Vice President stated that the crypto industry needs “stable rules, rules for the road.”
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