Harris VP short list shows mixed support for crypto issues

After her first full day on the campaign trail, Vice President Kamala Harris has apparently secured enough delegates to become the Democratic nominee, according to a survey from the Associated Press. 

While the pledged support is not official until delegates cast their votes next month, Harris said in a statement that she “look[s] forward to formally accepting the nomination soon.” 

The focus is now on who Harris will select as a running mate. The short list is reportedly made up of North Carolina Gov. Roy Cooper, Pennsylvania Gov. Josh Shapiro, Kentucky Gov. Andy Beshear and Arizona Sen. Mark Kelly. Transportation Secretary Pete Buttigieg and retired Navy Admiral William McRaven are also being vetted, according to a report from NBC. 

While Harris has kept her crypto opinions fairly under wraps, several of her potential vice presidents have taken more direct stances. 

Roy Cooper 

Cooper, who is finishing up his second term as governor, in July vetoed a bill that sought to ban CBDCs in North Carolina. The state general assembly had passed the measure with broad bipartisan support. The vote came out to a 109-4 majority in the House and a 39-5 majority in the Senate. 

“This legislation is premature, vague and reactionary, and proposes an end result on important monetary decisions that haven’t even been made yet,” Cooper said in a statement following his veto.

The bill is similar to the Republican-driven effort in the House with the CBDC Anti-Surveillance State Act, which passed the House in May in a 216-192 vote. 

Josh Shapiro 

Under Shapiro’s leadership, the Pennsylvania Department of Banking Securities quietly reversed guidance issued in 2019. The regulator now interprets the term “money” to include virtual currencies, meaning crypto exchanges and other related businesses must become licensed as money transmitters effective this fall. 

Also earlier this year, grassroots environmental organization Save Carbon County sued Shapiro and Stronghold Digital Mining for alleged pollution and tax credit abuse. The environmentalists claim that under Shapiro, Stronghold and their subsidiary, Panther Creek Electric Generating Facility, received more than $20 million in renewable energy tax credits from Pennsylvania.  

Mark Kelly 

Kelly was one of the 12 Democratic Senators to vote in favor of Joint Resolution 109, the legislation that sought to overturn the Securities and Exchange Commission’s staff accounting  bill 121. President Biden later vetoed the bill and the House earlier this month opted to uphold the decision. 

Andy Beshear 

Beshear in 2021 greenlit a pair of Kentucky laws that offered tax breaks to cryptocurrency miners. The legislation duo was an effort to bring more mining operations to the state, which has succeeded with some controversy. 

Residents have complained about noisy facilities, increased pollution and higher energy prices. Utility regulators in 2023 rejected a proposal from Kentucky Power that sought to extend miners’ benefits, including discounted power prices. 

Pete Buttigieg 

Buttigieg, who made a run for the White House himself in 2020, said years ago that bitcoin should be “treated as a commodity.” The opinion at the time may have been revolutionary, but today even SEC Chair Gary Gensler has taken the same view on bitcoin. 

Buttigieg did take a more centrist view on tech policy in 2020, opting to avoid the radical statements his former competitors made, like Sens. Elizabeth Warren and Bernie Sanders who said they would “break up Facebook” should they make it to the Oval Office. (It’s worth noting that Buttigieg and Facebook founder Mark Zuckerberg are old Harvard pals.)

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.