Vice President Kamala Harris Might Continue Strict Crypto Regulations

Alex Thorn, head of research at Galaxy, commented on this in an August 13 post on X, stating, "Her advisor choice suggests she will keep Biden's hostile attitude to crypto."

Harris is expected to outline her economic policy plans in mid-August, which will clarify her stance on cryptocurrency regulation.

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Thorn noted that Deese and Ramamurti played important roles in shaping the Biden administration's anti-crypto strategies, including "Operation Chokepoint 2.0."

This term, coined by crypto venture capitalist Nic Carter, refers to the collapse of three crypto-friendly banks—Silicon Valley Bank, Silvergate Bank, and Signature Bank—in March 2023. These collapses were seen as part of government efforts to marginalize the crypto industry by cutting off its access to traditional banking services.

Earlier this month, the US Federal Reserve issued a directive to another crypto-friendly bank, Customers Bank, requiring it to give 30 days' notice before forming new relationships with crypto firms. Gemini co-founder Tyler Winklevoss claimed this action confirms that "Operation Chokepoint 2.0" is ongoing, making Harris' crypto 'reset' a scam.

On the other hand, when discussing Harris' crypto policies on CNBC, former presidential candidate Vivek Ramaswamy suggested she might adjust her rhetoric to attract crypto-friendly voters, a strategy influenced by former President Donald Trump's focus on the issue.

However, Ramaswamy mentioned that her stance should be judged based on the specifics of her proposed policies and said:

I challenge Kamala Harris to not just cite the pieties and the words— go into detail, say what you actually believe about self-custody of assets. Say what you actually believe about whether you think Gary Gensler should continue as the leader of the <Securities and Exchange Commission>.

He concluded that detailed, thoughtful crypto policies from Harris could benefit the US, even if there are disagreements over specific policies.

Overall, Harris' position on crypto will become clearer soon; however, her association with anti-crypto figures suggests a potential continuation of the Biden administration's stringent regulations.

Gode S. , Web3 Market Analyst

Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.

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