Coinbase policy chief confirms Harris team's constructive approach to crypto innovation.
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Key Takeaways
- Coinbase CPO confirms Harris team's constructive approach to crypto innovation.
- Harris campaign ramps up crypto support with "Crypto for Harris" events and positive statements.
A potential friendly stance on crypto by US presidential candidate Kamala Harris was confirmed by Coinbase’s Chief Policy Officer (CPO) Faryar Shirzad. In an X post on Aug. 21, Shirzad highlighted his participation in “a number of discussions with the Harris team,” citing a constructive approach and focus on advancing innovation.
“The dialogue had been an important first step, and Brian Nelson’s statement is an encouraging second step in the right direction,” he added.
Coinbase’s CPO remarks came a few hours after Bloomberg reported that Harris is eyeing a friendly stance towards the crypto industry. According to Brian Nelson, senior campaign adviser for policy to the Democrat candidate’s campaign, Harris will support policies that ensure the growth of emerging technologies, such as crypto.
Notably, Harris’ campaign has been ramping up a supportive stance when it comes to crypto, such as the “Crypto for Harris” effort. A virtual meeting was conducted on Aug. 8, with figures like billionaire Mark Cuban and Silicon Valley investor Ron Conway showing up.
Moreover, another event under the “Crypto for Harris” umbrella also took place on Aug. 14, where Senate Majority Leader Chuck Schumer voiced “strong support for crypto” along with other top Democrats’ names.
According to a report from Biran Krassenstein, Schumer compared crypto and artificial intelligence regulations, underscoring that both technologies can thrive with the right guidelines.
Potential for good
Although Harris is constantly tied to the oppressive stance taken by the Biden government against the crypto industry, a CoinShares study pointed out that the current vice president is showing signs of a softer approach.
Thus, CoinShares analysts recognized that a Harris presidency has the potential to be indeed beneficial for crypto.
Nevertheless, Donald Trump’s clear remarks and actions related to crypto, such as the nomination for vice president of J.D. Vance, a former venture capitalist with a strong pro-crypto stance, make a second term by the Republican candidate a safer landscape for crypto.
Users of the Polygon-based prediction market Polymarket agree with the findings of the study. Despite the positive news involving Harris and crypto, Trump’s odds of winning the US election have climbed 1%, currently at 53%, while Harris’ odds stand at 46%.
