Vice President Kamala Harris’s Stance on Crypto Regulations: What to Expect
Vice President Kamala Harris is making headlines as she reportedly collaborates with former Joe Biden economic advisors Brian Deese and Bharat Ramamurti. This partnership has sparked speculation about Harris’s stance on cryptocurrency regulations, with Alex Thorn, head of research at Galaxy, suggesting that her choice of advisors indicates a continuation of Biden’s tough approach towards crypto.
Thorn’s comments, shared in an August 13 post on X, hint at Harris’s potential alignment with the Biden administration’s anti-crypto strategies, including the controversial “Operation Chokepoint 2.0.” This term, coined by crypto venture capitalist Nic Carter, refers to the government’s efforts to restrict the crypto industry’s access to traditional banking services, leading to the collapse of several crypto-friendly banks.
Recent actions by the US Federal Reserve, such as issuing directives to crypto-friendly banks like Customers Bank, have further fueled concerns about ongoing regulatory crackdowns on the crypto sector. Gemini co-founder Tyler Winklevoss has even labeled Harris’s proposed crypto ‘reset’ as a potential scam in light of these developments.
However, there are contrasting views on Harris’s approach to crypto regulations. Former presidential candidate Vivek Ramaswamy believes that Harris may adjust her rhetoric to appeal to crypto-friendly voters, drawing inspiration from former President Donald Trump’s focus on the issue. Ramaswamy emphasizes the importance of Harris providing detailed insights into her proposed policies to gauge her true stance on crypto.
As Harris prepares to outline her economic policy plans in mid-August, the crypto community eagerly awaits clarity on her position. While some anticipate a more crypto-friendly approach from Harris, her association with anti-crypto figures suggests a continuation of stringent regulations implemented during the Biden administration.
In the coming weeks, Harris’s detailed crypto policies will shed light on her stance, potentially shaping the future of cryptocurrency regulations in the US. Stay tuned for updates on this evolving story.
