As cryptocurrency becomes a key issue in the upcoming U.S. presidential election, Vice President Kamala Harris needs to reconsider her position on the topic.
Kamala Harris and Cryptocurrency
Former President Donald Trump has been very supportive of cryptocurrency. He has promoted using crypto donations, suggested that the U.S. should have a Bitcoin reserve, and appeared at various crypto events. In contrast, Vice President Kamala Harris has not shown much interest in engaging with the cryptocurrency community.
This gap between Harris and the growing influence of cryptocurrency highlights the need for her to rethink her stance and connect with this important sector.
Representative Wiley Nickel, who spoke at the Bitcoin Conference, wrote an open letter urging Harris to update her views on cryptocurrency. He mentioned, “I don’t want to jump ahead of Vice President Harris, but I think we’ll see some positive changes in her policy positions soon.”
Nickel emphasized that embracing cryptocurrency and new technologies like Web3 is essential for the U.S. to stay at the forefront of innovation. He noted that the Biden administration had previously not engaged with leaders in the cryptocurrency field but reassured that efforts are now underway to improve this.
Nickel also criticized former President Trump’s recent support for cryptocurrency, suggesting it is a tactic to gain votes rather than a genuine commitment. He stated, “Donald Trump did nothing for four years as president, and he doesn’t understand the issues at all.” Nickel added that Trump’s actions might be more about avoiding legal troubles than a real commitment to cryptocurrency.
In addition to Trump, Nickel also criticized Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), for his handling of cryptocurrency regulation. Nickel believes that Gensler has overstepped his authority, saying, “He’s way out of his lane.”
Although some in the crypto industry want Vice President Harris to remove Gensler, Nickel thinks this is unlikely to happen.
With the election just a few months away, it will be interesting to see if Harris adjusts her position on cryptocurrency or if Trump’s support from the crypto community continues to grow.
