- VP Kamala Harris is likely to run for president and could adjust current party crypto policies.
- Senator Wiley Nickel is working behind the scenes to help reshape crypto regulations.
- Advocacy groups urge Harris to support digital assets and work with industry.
With Joe Biden dropping out of the presidential race, the question on crypto investors’ minds is, who is going to take his place? While Biden endorsed Vice President Kamala Harris, she is not officially confirmed for the post to run for POTUS.
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For now, though, it seems likely that she remains in the race and will challenge Donald Trump in November. Not much is known about Harris’s views on crypto, but it’s arguable that she may continue the current administration’s policies.
On the other hand, the 59-year-old is decades younger than both Trump and Biden and it’s possible that she changes her mind – after all, so did Trump.
And there are other signs that a Harris administration might be more pro-crypto. Democratic Senator for North Carolina, Wiley Nickel, told CNBC that he believes Harris may be open to “reset” the Democrats policy on crypto regulation.
FIT21 Senator Is Confident on Policy Reset
Nickel brought 71 Democrats together to vote with Republicans on FIT21 – which is a bill aimed to revamp digital asset regulations by boosting the CFTC’s role and defining the SEC’s continued oversight over securities. The bill, set for Senate consideration after the US Federal election, enhances consumer protections and clarifies securities definitions.
President Biden had at the time indicated he wouldn’t veto the bill if re-elected and it passed.
During the interview Nickel said he is “really hopeful that we are going to see a reset [on policy] from Vice President Harris”.
He added he is working behind the scenes to encourage Harris and her team to embrace “digital innovation and keep those jobs here in the United States”. Nickel added that he hopes to “get some good comments” come from Harris in regards to crypto.
He stressed that it’s important to keep crypto bi-partisan and not let Donald Trump make it his issue, especially given that he will speak during the Bitcoin conference in Tennessee.
Digital Chamber Urges Harris to Embrace Crypto
Crypto advocates The Digital Chamber also didn’t take long to urge Harris to show support for the industry. The chamber sent a letter to the Vice President with “important requests to support the digital asset industry”.
The chamber stressed the importance for Americans that Democrats “embrace this technology fully”.
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Specifically, The Digital Chamber asked Vice President Harris to:
Advocate for inclusive, pro-crypto language; choose a running mate “sophisticated in digital asset policy”; and to engage with the industry and its leaders.
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