In the United States, to say that relations between Democrats and the cryptocurrency sector are strained is an understatement. But things could change, since Kamala Harris entered the presidential race. What's in store?
Kamala Harris more open to cryptocurrencies than Joe Biden?
The Biden administration has made a name for itself with its hard line on cryptocurrenciesEmbarrassed by the FTX affair, which involved people close to the Democratic camp in 2022, the party has marked a clear distance from the ecosystem… A distance into which Donald Trump and the Republican Party have plunged.
But with President Joe Biden dropping out of the race, his heir apparent Kamala Harris may be opting for a different strategy. According to reports from the Financial Times, His campaign teams have already contacted players in the ecosystem.
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According to sources close to the site, Kamala Harris' teams have in fact initiated discussions with the companies Coinbase, Circle, as well as Ripple Labs. Companies that have been particularly badly hurt by the relentless campaign of Gary Gensler, the head of the Securities and Exchange Commission (SEC).
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A “reboot” for the Democratic Party?
This alleged change of course comes while many players in the sector have expressed their support for Donald Trump. Big names like Cameron and Tyler Winklevoss, who run Gemini, and Jesse Powell, CEO of Kraken, have positioned themselves in support of the Republican camp.
Kamala Harris would therefore like a real “restart” of relations between the ecosystem and the Democratic Party.. It would also be a broader strategy, according to the Financial Times. The Democrats can indeed be considered “anti-business”, facing a Donald Trump who presents himself above all as a businessman.
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Opening up to cryptocurrencies is therefore also opening up to startups and innovation.. This shows once again that Web3 has a significant place in the United States, and that the campaign was partly focused around that.
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Source: Financial Times
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A journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance, analyzing how news from this sector influences the cryptocurrency sector, offering a unique and informed perspective to Cryptoast readers.
Marine Debelloir
3071 articles
