Vice President Kamala Harris is steering the Democratic Party toward a more “pragmatic” approach to cryptocurrency, highlighting a potential shift in the party’s stance on digital assets.
What Happened: Her nuanced position marks a departure from the Biden administration’s hardline regulatory approach, which has left the crypto industry on edge, according to a Politico report.
While Harris’s messaging signals a friendlier posture toward crypto, it’s crafted to keep both skeptics and supporters within the party at bay.
Harris’s balancing act comes amid ongoing disputes among key Democratic figures over the value of the crypto industry.
While some, including Senate Majority Leader Chuck Schumer (D-NY), view digital assets as a valuable innovation, others like Senator Elizabeth Warren (D-Mass.) and Rep. Brad Sherman (D-CA) remain cautious, focusing on the risks of financial crimes and consumer protection.
In navigating this political terrain, Harris has vowed to “encourage” the growth of digital assets while upholding safeguards for consumers and investors.
So far, Harris’s approach appears to resonate within the crypto sector.
“There’s nothing controversial in there,” said Rep. Sean Casten (D-Ill.), a notable crypto skeptic, in response to Harris’s comments on the industry.
Her strategy involves broader economic policy themes while avoiding specific positions that could provoke backlash from either side of the crypto debate.
In an environment where the crypto industry wields considerable financial influence, …
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