Cardano founder Hoskinson expresses skepticism as Kamala Harris’s aide states that she would set clear regulations that support the cryptocurrency industry if elected president.
Brian Nelson, Vice President Kamala Harris’s senior policy advisor, has stated that if she is elected, the Democratic candidate will support policies that aid the growth of cryptocurrencies. The advisor made this claim in a roundtable at Bloomberg’s Democratic National Convention on Wednesday.
Nelson noted that Harris is committed to seeing innovative technologies like digital assets thrive in her administration. He said the vice president would establish certain rules and clear regulatory policies to ensure the well-being of the crypto industry.
The senior policy advisor pointed to Harris’s speech at a North California rally, where she vowed to clamp down on unnecessary regulations and dictatorship if elected. Notably, the vice president didn’t specifically mention cryptocurrencies while making that commitment.
The Harris team is seeking to appease the crypto industry, which at the moment is solidly behind Republican candidate Donald Trump. From the start of his campaign, Trump showed his support for cryptocurrencies and has vowed to do away with regulatory players who have stood in the way of the innovation.
The Biden administration has been burdensome to the crypto sector, as key industry players claim his lesser-fare attitude towards the industry allowed regulators to enforce unclear rules on digital assets. For instance, in a few years, the Securities and Exchange Commission (SEC) sued five major crypto entities, including Binance, Coinbase, and Kraken.
Just Bluffs, Cardano Founder, Reacts
Cardano founder, Charles Hoskinson, has expressed his displeasure with Nelson’s speech, calling them bluffs. Hoskinson tweeted on Wednesday that the affirmation to stand for the crypto industry carried no intentionality or action plan.
Hoskinson stated that Harris didn’t state if she was going to fire SEC boss Gary Gensler or make any policy changes if elected. He further said that he doesn’t trust her since there was no laid-out plan to pursue her claims.
No specific policy or proposal. Just talk. Will gary be fired? What legislation do you support? What executive actions will be issued? Why haven't you changed the policy RIGHT NOW since you're president.
I'm sorry there is ZERO trust. We need specific, tangible actions. https://t.co/iWG6Jq0Ggt
— Charles Hoskinson (@IOHK_Charles) August 21, 2024
Hoskinson has been vocal about his displeasure with Biden’s crypto policies. In a July 1 post, the Cardano founder urged the crypto community to consider the future of digital assets while voting for the next president in the November elections.
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