Neary65millionAmericanshavealreadycasttheirvotesaheadofnextweek’selection—andtheracebetweenthetwocandidatesistighteningup.
Cryptocurrencyhasbeenasignificantissueinthepresidentialrace,withformerpresidentandRepublicannomineeDonaldTrumppivotingfromaskeptictoaself-proclaimedcryptocandidate,whilecurrentVicePresidentKamalaHarris—whotookoverforPresidentJoeBidenastheDemocrats\'pickinJuly—hassignaledanintenttobreakfromtheanti-cryptopoliciesofthecurrentadministrationinwhichsheserves.
AtDecrypt,we\'vebeencoveringtheinsandoutsoftheroleofcryptocurrencyinAmericanpoliticsthroughouttheentireelectioncycle.ButwithjustthreedaysleftuntilElectionDay,here\'saprimeronwhereTrumpandHarrisstandoncrypto,andwhatyoumightexpectifeithersecuresthewinnextweek.
DonaldTrump
Ex-PresidentDonaldTrumphasbeenfarlouderthanHarrisonthetopicofcrypto.
Previouslyanti-Bitcoinandskepticalofthecryptospace,thebusinessandrealestatemogulhastakenasharpU-turnonthetopic,comingoutasanadvocatefortheindustryandpickingupamplesupportanddonationsalongtheway.
IamnotafanofBitcoinandotherCryptocurrencies,whicharenotmoney,andwhosevalueishighlyvolatileandbasedonthinair.UnregulatedCryptoAssetscanfacilitateunlawfulbehavior,includingdrugtradeandotherillegalactivity....
—DonaldJ.Trump(@realDonaldTrump)July12,2019
Fast-forwardto2024andTrumphasreleasedmultiplesetsofNFTcollectibles,calledfortheAmericanizationofBitcoin,andevenhasbackedadecentralizedfinance(DeFi)projectcalledWorldLibertyFinancialalongsidehissons.WorldLibertyhasn\'tgottenofftoagreatstartwithprospectiveinvestors,thoughsourcestellDecryptthatitplanstoissueastablecoin.
LikesomeotherRepublicans,Trumphasrailedagainstcentralbankdigitalcurrencies(CBDCs),ordigitaldollars—effectivelygovernment-backedcryptocurrenciesthatdon’tyetexistintheU.S.,butfrightenthelibertarianwingoftheGOPandlargepartsofthedigitalassetspaceduetofearsofincreasedgovernmentsurveillance.
HispromisetohelpBitcoinmining—abigbusinessformerlydominatedbyChina,butnowwithalotofAmericanplayers—perfectlyfitsTrump’sfieryprotectionistbrand.AsdoeshisdesiretofirecryptobogeymanGaryGensler,thecrypto-targetingU.S.SecuritiesandExchangeCommissionchairman.
TopexecutivesinthecryptospacehavesincebackedTrumpforhisapparentpassionfortheindustry,oratleasthiswillingnesstopubliclyengagewithanindustrythatmostpoliticianshaveavoided.
Ifelectedtoasecondterm,willTrumpliveuptohispromisestoprotectcryptointheU.S.andadvancetheindustry?
KamalaHarris
DemocraticnomineeKamalaHarriswasinitiallyquietonthetopic,andunlikeTrump,certainlyhasn\'tbeenseentossingburgerstoBitcoinersataBTC-themedNewYorkCitybar.
Butcryptoisapartoftheformerattorneygeneral’sagenda.
InOctober,Harrissaidshehadplansforthespacewhenapartofher“KamalaHarrisWillDeliverforBlackMen”platformincludedacommitmentforspecificallyfortheAfricanAmericancommunity.
Adocumentforthecampaignsaiditwasfor“supportingaregulatoryframeworkforcryptocurrencyandotherdigitalassetssoBlackmenwhoinvestinandowntheseassetsareprotected.”
Theframingprovedcontroversial,particularlysinceitwasarguablyhermostspecificcommentstodateaboutcrypto.ButaspokespersonlaterclarifiedthatsuchplanswereintendedforallAmericans,andwouldn\'tbelimitedbyrace.
Thatisn’ttheonlyevidencethatthecryptoindustrywillfitintoherpresidentialplans,however.Harrishassaidthatblockchain,AI,andotheremergingtechnologieswillbeinnovateduponinAmerica,andbeforethattolddonorsatafundraisingeventthatshewouldencouragegrowthforthedigitalassetsspaceinthecountry.
BillionairebusinessmanandcryptoenthusiastMarkCubanpreviouslytoldDecryptinJulythattheHarriscampaignreachedouttotheformerDallasMavericksownerwithquestionsaboutdigitalassets.HelatersaidtheHarriscampwas“farmoreopen”tothespacethantheBidenadministration—andhe\'snottheonlycryptoheavyweightwho\'soptimisticaboutKamala.
EditedbyAndrewHayward
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