Kamala Harris has vowed to encourage innovation in digital assets development and legislation.
Kamala Harris, the current U.S. Vice President and Democratic presidential candidate, has pledged to support the digital asset and artificial intelligence (AI) sectors if she wins the upcoming November election, according to a report from Bloomberg.
At a recent fundraiser in New York City, Harris outlined her economic vision, emphasizing the need to foster technological innovation. She expressed her intention to work with small businesses, labor groups, and major corporations to push advancements in AI and digital assets. Harris stated, “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 consumers and investors.”
A key part of her plan includes creating a clear regulatory framework for these emerging sectors. Harris promised to provide a consistent and safe business environment with well-defined rules.
This marks Harris’ first significant public statement on digital assets since securing the Democratic nomination. Her previous silence on the issue had sparked concerns within the industry, with some wondering if her policies would differ from the Biden administration’s current stance. This uncertainty had pushed some crypto supporters towards her Republican rival, Donald Trump.
Impact on Bitcoin
Analysts at VanEck believe a Harris presidency could be beneficial for Bitcoin. They argue that her leadership might help accelerate Bitcoin adoption due to ongoing structural challenges and the potential for clearer regulatory guidance. According to their report, a Harris presidency could drive Bitcoin adoption by addressing these issues, potentially allowing BTC to outperform other digital assets.
However, challenges could arise if Harris aligns with crypto skeptics like Senator Elizabeth Warren or continues to support SEC Chairman Gary Gensler, both of whom have shown resistance toward certain aspects of the crypto industry.
On the other hand, Trump’s pro-crypto stance, exemplified by his promotion of U.S. Bitcoin mining and decentralized finance (DeFi) initiatives, could lead to deregulation and a more business-friendly environment for the crypto sector under a second Trump term.
