CoinWorld reported:
Not everyone in the cryptocurrency industry was impressed with Vice President Kamala Harris’s political score this past weekend. After the Democratic candidate received a “B” rating from the cryptocurrency advocacy group Stand With Crypto, Harris expressed skepticism on Twitter.
“Delete this,” said the well-known anonymous NFT collector Cosomo de’ Medici. This was in response to a post on Twitter (now known as X) that emphasized Harris’s new standing within the advocacy organization. Other popular comments included “Come on lmao” and “Liars,” along with numerous lengthy replies and quoted tweets.
The Democratic candidate spoke about cryptocurrency for the first time during her campaign this weekend. At a fundraising event in New York City, Harris pledged to “encourage innovative technologies such as artificial intelligence and digital assets while protecting our consumers and investors.”
Stand With Crypto, a nonprofit originally launched by Coinbase, expressed agreement with this statement. The organization updated Harris’s page, stating that the Democratic candidate now “supports cryptocurrency to some extent” following her remarks.
With 41 days left in the U.S. presidential campaign, Harris may have garnered more support among some cryptocurrency advocates, although Stand With Crypto has given greater favor to her opponent, former President Donald Trump.
The Republican candidate has positioned himself as a supporter of digital assets throughout the campaign, earning an “A” rating from Stand With Crypto. Trump’s campaign partner, J.D. Vance, also received an “A” rating, while Democratic vice-presidential candidate Tim Walz was not rated due to a lack of public statements regarding cryptocurrency.
According to Stand With Crypto’s leadership, while some skeptics believe Harris’s comments lack substance, this mention represents a significant political milestone.
“Presidential candidates are listening,” said Logan Dobson, Executive Director of Stand With Crypto, in a statement. “It’s encouraging to hear Vice President Harris recognize the critical role that digital assets and cryptocurrency play in driving economic growth in the U.S.”
Under President Joe Biden’s leadership, some industry advocates argue that cryptocurrency is facing threats. They believe that a series of high-profile enforcement actions by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency companies like Coinbase should be reflected in Harris’s secondary score as Commander-in-Chief.
Matthew Sigel, Head of Digital Asset Research at VanEck, told The Wall Street Journal: “It’s hard to take her comments on digital assets seriously when the government she’s part of is pursuing them at every turn.”
Sigel added that the current administration cannot compensate for the damage done to the cryptocurrency industry with “vague platitudes.” He stated that if Harris genuinely wanted to express support for digital assets, she could first utilize her power to remove industry adversary SEC Chairman Gary Gensler.
Ryan Selkis, CEO of the cryptocurrency data company Messari and a co-founder, echoed similar sentiments in a controversial tweet from Trump. He indicated to Decrypt in a statement that Stand With Crypto’s new rating was politically motivated.
“The ratings are undermined by ‘wishful thinking’ and attempts to appease the incumbents,” he noted, adding that the organization’s supporters “don’t want to anger Harris’s team in a 50-50 election.”
With millions of dollars flooding in from cryptocurrency companies like Coinbase and Ripple through political action committees supporting cryptocurrency, Democratic leaders are attempting to change the status quo this election season. Last month, Senate Majority Leader Chuck Schumer, a Democratic Senator from New York, vowed to push for crypto regulation at the upcoming Crypto4Harris town hall event.
As Harris and Trump remain neck-and-neck in several states, Harris’s remarks could influence some voters at the ballot box in November. To convey this message, Dobson emphasized Stand With Crypto’s messaging efforts in several battleground states.
“In the past few weeks, we have mobilized thousands of voters in key battleground states such as Arizona, Nevada, Michigan, Wisconsin, and Pennsylvania,” he stated. “A razor-thin margin will make a difference at the polls.”
Editor: Andrew Hayward
