In a potentially encouraging signal for crypto advocates, advisors close to Kamala Harris have already begun reaching out to billionaire and noted Bitcoin enthusiast Mark Cuban about crypto policy, he told Decrypt.
“I'm getting multiple questions from her camp about crypto,” he said Tuesday. “So I take that as a good sign.”
Cuban added that he did not know of any other industry leaders who had yet received such inquiries. In an earlier conversation with Politico this morning, the entrepreneur shared that business leaders are warming to the prospect that Harris might be a stronger advocate for emerging tech sectors than her predecessor, if elected.
“The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service,” Cuban said.
Kamala Harris Urged by Lobbying Group to Support Crypto and 'Change Perception'
The Digital Chamber, a digital asset trade association, is urging presumptive Democratic nominee Kamala Harris to embrace the U.S. cryptocurrency industry as part of her would-be presidential campaign, following President Joe Biden’s decision not to seek reelection. In the letter sent on Monday, the Digital Chamber recommends that Vice President Harris foster “open dialogue” with key crypto industry leaders, as well as include pro-crypto language in the Democratic Party’s platform. The trade gro...
The developments come less than 48 hours into Harris’ improbable campaign for president, which kicked off after Joe Biden announced on Sunday that he would not be running for re-election. Harris has already cemented her position as the presumptive Democratic nominee.
It makes sense why the Harris camp would turn to crypto so immediately. In recent weeks, former president Donald Trump has aggressively courted—and won the approval of—many tech leaders, including a substantial number of prominent crypto executives. Fairshake, a pro-crypto super PAC, has raised a whopping $203 million since the fall, making it the biggest independent political spender this election cycle.
But it’s still unclear how the vice president actually plans to govern when it comes to crypto. While she has never publicly shared her thoughts on the sector, the previously San Francisco-based politician is widely seen as more connected to Silicon Valley and tech industry interests than Biden.
Kamala and Crypto? How Biden's Potential Replacements Feel About Bitcoin
With key members of his own party reviving a push to keep President Joe Biden out of the 2024 election, attention has now shifted to the handful of prominent Democrats who might take his place atop the ticket. As the prospect of that major shift looms, many in crypto are asking: How might these replacements govern when it comes to crypto? Multiple prominent crypto policy makers recently told Decrypt that any Biden replacement would mark a welcome change, as the crypto regulatory landscape coul...
On the other hand, she is also positioning herself as the inheritor of the Biden Administration, which at times took an aggressively anti-crypto stance.
Industry advocates appear cautiously optimistic, however, that a Harris presidency could offer a break from those Biden-era policies, and a breakthrough to some sort of bipartisan consensus on creating a regulatory framework for digital assets.
On Monday, the Chamber of Digital Commerce, a crypto lobbying group, sent a letter to Harris imploring her to embrace the industry and choose a running mate with strong pro-crypto bona fides.
“There is a public perception that the party holds a negative viewpoint of digital assets, largely due to the Biden/Harris Administration's notably cautious and at times hostile approach to these transformative technologies,” the group said. “Your expected candidacy for President represents an opportunity to change that perception.”
Edited by Andrew Hayward
Editor's note: This story was updated after publication to include comment from Mark Cuban and additional context.
