Harris Aims to Reconnect Democrats with Crypto Industry

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Kamala Harris Aims to Reconnect Democrats with Crypto Industry

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 29, 2024

Key Takeaways

Vice President Kamala Harris's campaign is engaging with major crypto firms to rebuild the Democratic Party's relationship with the sector;
This initiative aims to create a cooperative dialogue and develop regulations that support the crypto industry's growth and stability;
Harris's advisors emphasize that the focus is on effective regulation, not campaign donations.

Kamala Harris Aims to Reconnect Democrats with Crypto Industry

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Vice President Kamala Harris's campaign is working to rebuild the Democratic Party's relationship with the crypto sector.

A recent Financial Times report revealed that Harris's advisors have been in talks with executives from major crypto firms like Coinbase, Ripple, and Circle, aiming to create a cooperative dialogue and develop regulations that promote the growth and stability of the crypto industry.

This initiative addresses criticisms of President Joe Biden's administration regarding its stringent approach to digital assets.

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Harris's advisors have clarified that this initiative is not about securing campaign donations. Instead, it focuses on establishing a relationship that can lead to effective regulation of the cryptocurrency industry.

It also aims to change how business leaders view the Democratic Party and counter the belief that Democrats oppose business interests. The Harris campaign emphasizes being "pro-business, responsible business," seeking to reassure the industry of the party's commitment to fostering a healthy business environment.

The engagement with the crypto sector represents an effort to cultivate a regulatory environment conducive to the industry’s growth.

As the election approaches, the growing political influence of the cryptocurrency industry is increasingly apparent. Once skeptical about cryptocurrencies, former President Donald Trump has recently become a strong advocate for the industry, as evidenced by his keynote speech at the Bitcoin Conference in Nashville, Tennessee.