Harris Nomination Prompts Renewed Crypto Discussion

TLDR

• Vice President Kamala Harris is now the presumptive Democratic nominee for president after Joe Biden withdrew from the race.
• The crypto industry sees Harris’s nomination as an opportunity for a reset in the Democratic party’s approach to crypto.
• Harris’s campaign has reportedly been asking questions about crypto and may be more open to the technology than Biden.
• Donald Trump, the Republican nominee, has declared himself a “crypto candidate” and is accepting crypto donations.
• A cryptocurrency named Kamala Horris has seen significant growth since Harris became the presumptive nominee.

Vice President Kamala Harris has become the presumptive Democratic nominee for president following President Joe Biden’s unexpected withdrawal from the race.

This sudden change has caught the attention of the cryptocurrency industry, which sees an opportunity for a potential shift in the Democratic party’s approach to digital assets.

Harris, who hails from California, is seen as potentially more open to technology and related issues due to her background. Mark Cuban, a well-known entrepreneur and Bitcoin enthusiast, told Decrypt that Harris’s campaign has been asking him questions about cryptocurrency.

This suggests that the Harris campaign may be more receptive to crypto-related topics than the Biden administration has been.

The crypto industry has long sought more engagement from Democratic leadership. The Digital Chamber, a prominent digital asset trade association, has already urged Harris to support the U.S. cryptocurrency industry if she becomes the Democratic presidential nominee.

They’ve called for open dialogue with industry experts to help craft policies that encourage growth while ensuring consumer protection and financial stability.

On the Republican side, former President Donald Trump, now the party’s nominee, has already positioned himself as crypto-friendly. Trump declared himself a “crypto candidate” at a Mar-a-Lago event in May and has announced that his campaign will accept donations in various cryptocurrencies, including Bitcoin, Ether, and Dogecoin.

The contrast between the two candidates’ approaches to crypto could become a notable issue in the upcoming election. While Democrats have traditionally been more skeptical of cryptocurrency, Harris’s nomination presents an opportunity for the party to reassess its stance.

Interestingly, the crypto market has already reacted to Harris’s new position. A cryptocurrency named Kamala Horris, launched just a month ago, saw a significant price increase following Harris’s nomination.

The token jumped 40% in 24 hours and has experienced nearly 4,000% growth since its launch, according to data from CoinGecko.

Kamala Horris Price on CoinGecko

As the campaign progresses, the crypto industry will be watching closely to see how Harris develops her position on digital assets. Her choice of running mate could also provide clues about her administration’s potential approach to crypto and technology issues.

The upcoming Bitcoin Conference in Nashville, Tennessee, scheduled for July 25-27, may serve as a litmus test for both candidates’ engagement with the crypto community.

Trump is set to speak at the event, marking the first time a presidential candidate has attended the conference. It remains to be seen whether the Harris campaign will make a similar move to connect with crypto enthusiasts.

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