At the ongoing Democratic National Convention (DNC), Kamala Harris’s senior campaign advisor stated that the Harris administration would implement pro-crypto policies while supporting the growth of other emerging technologies. However, crypto industry veterans state that Kamala Harris’s crypto market support means nothing if she doesn’t put her talks into action. Cardano CEO Charles Hoskinson stated that he has ZERO trust in Harris’s team promising anything pro-crypto.
Kamala Harris Crypto Market Support – All Fluff No Stuff?
As we know, the Crypto for Harris campaign has been trying to prop up the image of Kamala Harris as a pro-crypto Presidential candidate only to counter Donald Trump’s outreach to the crypto industry. However, under the current Biden administration, the US Vice President hasn’t made any special efforts to address the concerns of the crypto industry.
Although Harris’s advisor Brian Nelson talked about undertaking pro-crypto policies at the Democratic National Convention, the 92-page DNC document released earlier this week has no mention of crypto.
Cardano CEO Charles Hoskinson expressed strong skepticism over Kamala Harris’s crypto market support citing the lack of any concrete policy proposals. He also highlighted the absence of specific action while questioning whether SEC Chair Gary Gensler would be removed, what legislation Harris supports, and what executive actions might be issued.
Hoskinson asked why are there no immediate policy changes in the current administration. “I’m sorry there is ZERO trust. We need specific, tangible actions,” he wrote. Fox Business journalist Eleanor Terret also called out the bluff stating that Harris’s campaign adviser Brian Nelson didn’t actually say anything about “crypto” or “digital assets” in his address.
🚨NEW: Harris campaign adviser Brian Nelson said @KamalaHarris will support policies that ensure emerging technologies can continue to grow.
I’ll probably get yelled at for pointing out that he didn’t actually say the words crypto or digital assets, just “that sort of industry.” https://t.co/4gvC3gktJl
— Eleanor Terrett (@EleanorTerrett) August 21, 2024
Nate Geraci, the ETF Store President said: “My take on this is very simple… Actions speak louder than words. Current admin, of which Harris is a part, is decidedly anti-crypto. There’s always balance b/w innovation & regulation. Focus has been solely on regulation. Need to demonstrate embracing innovation. Actions”.
Harris Loses Ground to Donald Trump
As per the Polymarket data, Kamala Harris has been once again losing ground to her opponent Donald Trump. As per the crypto market prediction platform, Trump has 52% odds of winning the election in comparison to 47% for Harris.
This shift comes amid the rising chances of Robert F. Kennedy Jr. endorsing Trump while deciding to drop out from his presidential race.
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Bhushan Akolkar
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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