During a prominent fundraiser in New York on Sunday, U.S. Vice President Kamala Harris spoke about the crypto industry for the first time while on the campaign trail, pledging to back its development if she is elected president in 2024. Addressing supporters, Harris highlighted her economic vision centered on innovation and job growth, stressing the significance of emerging technologies such as artificial intelligence (AI) and digital assets.
“I will bring together labor, small business founders and innovators, and major companies,” Harris said, according to Bloomberg. “We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
The crypto industry has become a significant player in the 2024 presidential race, with investors and executives contributing heavily to campaigns in hopes of shaping the regulatory environment. While Harris’s comments marked her first public stance on the crypto industry, her Republican opponent, former President Donald Trump, has been more vocal, aggressively courting the crypto sector. Trump has pledged to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler, roll out a stablecoin framework, and defend Americans’ “right to mine Bitcoin.”
Harris’s broader economic proposals during the fundraiser focused on promoting innovation in sectors like semiconductors and clean energy, part of her “opportunity economy” platform. She also promised to streamline regulations and cut bureaucracy to foster a more business-friendly environment.
However, Oliver Linch, CEO of Bittrex Global and head of future markets at the Adam Smith Institute, expressed uncertainty about Harris’s specific approach to crypto. He noted that while some Democrats, including former Speaker Nancy Pelosi, are showing pro-crypto tendencies, Harris might continue the policies of the current administration, making it unlikely she would replace Gensler.
The Sunday event, attended by notable Democratic officials like New York Governor Kathy Hochul and Senate Majority Leader Chuck Schumer, as well as celebrities such as Anne Hathaway and Billy Porter, boosted Harris’s fundraising efforts. Tickets ranged from $500 to $1 million. Harris’s campaign, along with the Democratic National Committee and state parties, raised $361 million in August, significantly outpacing the $130 million raised by Trump and the Republicans during the same period.