Is Kamala Harris’ Crypto Industry Engagement Enough to Sway Voters?
Vice President Kamala Harris recently took steps to engage with the crypto industry, hoping to reset relations with major exchanges. However, Bernstein analysts believe that these efforts might not be sufficient to sway voters in the upcoming US presidential election.
- Harris directed her aides to meet with industry officials but the details of these discussions remain unclear.
- Crypto companies have long been requesting clear rules tailored for digital tokens, different from traditional Wall Street regulations.
- Bernstein noted a shift in bipartisan support for cryptocurrencies but remains skeptical of Harris’ impact on the crypto community.
Crypto Industry Sees Trump’s Clear Support Over Democrats
Many in the crypto industry feel that the Democratic Party’s regulations have alienated them, leading to a preference for the Trump administration due to its unequivocal support for crypto. Analysts emphasize the need for substantial and timely policies to win over this sector.
Trump’s Stronger Crypto Support Shines Brightly Against Harris
Compared to Harris, former President Donald Trump enjoys stronger support within the crypto community. At a recent conference, Blockchain Association CEO Kristin Smith praised Trump for his pro-crypto stance, especially contrasting it with the challenges faced under SEC Chair Gary Gensler in recent years.
- Attendees at the conference applauded Trump’s promises regarding Gensler and his plans if re-elected.
- Polymarket bettors are favoring Trump over Harris, despite her recent engagement efforts.
Hot Take: Investors Skeptical of Harris’ Crypto Engagement
Investors and analysts are watching Vice President Kamala Harris’ efforts to engage with the crypto industry closely, wondering if it will sway voters in the upcoming US presidential election. Despite her attempts to reset relations with major exchanges, there is skepticism about whether this move will be enough to alter the industry’s current leanings.
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