He Jinli Finally Takes a Stand on Cryptocurrency and the US Presidential Election Sparks a Showdown in the Crypto Market

What Happened?
U.S. presidential candidate Kamala Harris publicly discussed cryptocurrency for the first time during her campaign, marking her first public statement on the subject since becoming the Democratic presidential nominee.
Harris emphasized that she will promote innovative technologies such as artificial intelligence (AI) and digital assets in the future and committed to creating a safe and transparent business environment.
This statement holds significant implications for the Web3 industry, as Harris has remained silent on cryptocurrency policy until now. Meanwhile, her opponent Donald Trump has actively sought recognition and support from the industry.
Cryptocurrency Policy Becomes a Voter Concern
As the election race intensifies, the cryptocurrency policies of both Harris and Trump have become crucial topics in the current U.S. presidential election.
Trump made it clear early in his campaign that he would push for cryptocurrency-related policies if elected and promised to dismiss Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), who has been scrutinized for multiple enforcement actions.
However, Harris had not publicly expressed her views on cryptocurrency until recently, when she finally allowed industry insiders to see her shift in attitude during a fundraising event.
According to a report by Bloomberg, Harris stated that she would promote innovative technologies such as AI and digital assets in the future and committed to creating a safe and transparent business environment.
“We will work together to invest in America’s competitiveness and future. We will encourage innovative technologies, such as AI and digital assets, while protecting our consumers and investors.”
Faryar Shirzad, the policy chief of Coinbase, the largest exchange in the U.S., also expressed on social media platform X that this was an important and constructive statement from Harris. Although her stance may not be as specific and forward-looking as Trump’s, it is still noteworthy because she recognizes the equal importance of digital assets and AI.
Will There Be Major Changes to Cryptocurrency Policy Before the Election? Industry Insiders Hope for Future Details
However, Harris’s position on cryptocurrency remains only a preliminary statement.
According to foreign media outlet Coindesk, insiders from her campaign team revealed that discussions between her team and the cryptocurrency industry have yet to form a concrete policy framework.
While she mentioned “encouraging innovative technologies” and “protecting consumers and investors,” the specific meanings of these statements remain somewhat ambiguous and need further clarification. Some leaders in the cryptocurrency industry, such as Jake Chervinsky, legal chief at the cryptocurrency venture firm Variant, expressed reservations, believing that “protecting consumers” could become a major excuse for anti-cryptocurrency developments in the future.
However, reports indicate that Harris’s campaign team is currently maintaining close dialogue with cryptocurrency companies such as Coinbase and Ripple Labs.
Paul Grewal, Coinbase’s Chief Legal Officer, stated that he is encouraged by the responses from Harris’s team and pointed out that their understanding of the needs of the cryptocurrency industry is deepening. However, Grewal also warned that Harris’s team may not present specific cryptocurrency policies before the election, saying, “Sometimes things take longer to accomplish than we imagine.”
In contrast, Trump’s position is much clearer; he openly supports cryptocurrency and promises that the U.S. will become a “global cryptocurrency hub.” He has launched four series of non-fungible tokens (NFTs) and supports his family’s cryptocurrency platform. Trump’s aggressive strategy is clearly aimed at attracting more cryptocurrency voters, especially from U.S. cryptocurrency companies, including Coinbase, Ripple, and Gemini.
References:
cointelegraph,
coindesk