Current President Joe Biden has taken a cautious stance on the crypto industry and its regulations. In contrast, new Democratic candidate Kamala Harris seems to be taking a different tack steps To improve the relationship between industry and the US government.
Harris’ advisers have reached out to top crypto firms in an attempt to mend ties, prompting speculation about possible pro-crypto terms in his policies.
Among the companies approached are household names such as crypto exchange Coinbase, blockchain developer Ripple Labs, and stablecoin provider Circle. While the exact content of the conversations has not been made public, both Harris and representatives from Coinbase and Ripple declined to comment. Harris Consultants emphasizes the importance of constructive relationship building, which will lead to stronger regulations to support industry growth.
Donations from the crypto industry
A key reason for Harris to strengthen relationships with blockchain companies is not only to drive innovation and growth in the industry, but also to gain support from sponsors.
The cryptocurrency community is a major source of donors and could significantly support Harris’ elections. His rival, Donald Trump, has long held a pro-crypto stance, which has earned him significant donations.
A lot of criticism for the current government and crypto policy
Some crypto companies believe that Harris will favor them. They felt inadequate support from the Biden administration. A crypto company executive put it this way:
“The fact that she’s willing to listen is already a big step. You can’t even arrange a meeting with Biden… It’s led people to develop a negative image of the Biden administration.
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