What Happens to Crypto If Kamala Harris Wins the 2024 US Presidential Election?

The vice president of the United States, Kamala Harris, is a bit of an anomaly among Capitol Hill politicians: she's never had strong words to say for or against digital currencies

Kamala Harris, vice president of the United States, has never publicly expressed strong support or opposition to digital currencies, tokenization, blockchain, or NFTs.

However, throughout US President Joseph Biden's tenure in the White House, he has spoken extensively about cryptocurrency.

Since Biden announced his intention to withdraw from the upcoming presidential election, the situation has shifted dramatically. His vice president is not guaranteed to receive the Democratic nomination, but he has already expressed his support for Harris.

If Harris wins the nomination, she will still face off against former US President Donald Trump, who has had a contentious relationship with cryptocurrency, opposing it in the past but recently warming up to it.

Trump's plans for the cryptocurrency industry may become clearer in the coming weeks, as he is scheduled to speak at the Bitcoin Conference on July 27. In the meantime, it's probably safe to assume he's at least pro-Bitcoin.

The question then becomes: What happens to cryptocurrency if Harris wins?

Just because we don't know her official stance doesn't mean we can't piece together some details about what it might be.

For starters, there's plenty of evidence to suggest she could continue on the path that's already been established. Her donors and supporters largely come from Biden's camp, since her political wagon has been hitched to his. It could be much easier for "President Harris" to make changes to the status quo than "Candidate Harris."

Additionally, Harris and her husband are both heavily invested, but neither own any digital assets, according to her 2023 White House financial disclosure.

This is noteworthy because, based on the disclosure, they aren't even a little bit interested in digital assets, despite their Silicon Valley connections. Harris, a California native, has been touted as one of the more tech-friendly Democrats to emerge in recent years, except for her somewhat cautious stance on AI.

It's possible that her avoidance of cryptocurrency has been just that: a complete rejection of the technology itself. If so, we might anticipate her rallying anti-crypto support as her campaign unfolds.

Lastly, it's important to note the razor-thin margins between Trump and Biden supporters before the latter withdrew from the 2024 race. If we envision a scenario in which Harris needs to quickly locate a few percentage points to validate her candidacy, the true question is whether endorsing pro-crypto would benefit or hinder her against Trump.

Related: Trump's VP pick, JD Vance, could mean a new era for crypto

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