Where Do Kamala Harris and Donald Trump Stand on Crypto?

Nearly 65 million Americans have already cast their ballots ahead of next week’s election — and the race between the two candidates is tightening.

Cryptocurrency has been a major issue in the presidential race, with former president and Republican candidate Donald Trump going from a skeptic to a self-proclaimed crypto candidate, while current Vice President Kamala Harris – who took over from President Joe Biden as the choice from the Democrats in July – has signaled its intention to break with the anti-crypto policies of the current administration in which she serves.

Bee Declutterwe’ve been discussing the ins and outs of cryptocurrency’s role in American politics throughout the election cycle. But with just three days to go until Election Day, here’s a primer on where Trump and Harris stand on crypto, and what you could expect if either secures victory next week.

Donald Trump

Former President Donald Trump has been much louder than Harris on the topic of crypto.

The business and real estate mogul was previously anti-Bitcoin and skeptical of the crypto space took a sharp U-turn on this topic, acting as an advocate for the industry and gathering ample support and donations along the way.

Fast forward to 2024 and Trump has released multiple sets of NFT collectibles, called for the Americanization of Bitcoin, and even co-sponsored a decentralized finance (DeFi) project with his sons called World Liberty Financial. World Liberty has not gotten off to a good start with potential investors, sources say Declutter that it plans to issue a stablecoin.

Like some other Republicans, Trump has done just that protested against Central bank digital currencies (CBDCs), or digital dollars – essentially government-backed cryptocurrencies that don’t yet exist in the US but are scaring the libertarian wing of the Republican party and large parts of the digital asset space due to fear of increased government surveillance.

His promise to help Bitcoin mining – a major business previously dominated by China but now with many American players – fits perfectly with Trump’s fiery vision. protectionist brand. As does his desire to fire crypto boogeyman Gary Gensler, the crypto-focused chairman of the U.S. Securities and Exchange Commission.

Top executives in the crypto space have since backed Trump because of his apparent passion for the industry, or at least his willingness to publicly engage with an industry that most politicians have avoided.

If elected for a second term, will Trump follow through on his promises to protect cryptocurrencies in the US and advance the industry?

Kamala Harris

Democratic candidate Kamala Harris was initially quiet on the subject, and unlike Trump, he certainly wasn’t seen throwing burgers at Bitcoiners at a BTC-themed bar in New York City.

But crypto is part of the former attorney general’s agenda.

In October, Harris said she had plans for the space when part of her “Kamala Harris Will Deliver for Black Men” platform included a commitment specifically to the African American community.

A document for the campaign said it was intended to “support a regulatory framework for cryptocurrency and other digital assets so that Black men who invest in and own these assets are protected.”

The wording proved controversial, especially since it was perhaps her most specific comments yet on crypto. bA spokesperson later clarified that such plans were intended for all Americans and would not be limited by race.

However, that is not the only evidence that the crypto industry will fit into her presidential plans. Harris has said blockchain, AI and other emerging technologies will be innovated in America, telling donors at a fundraising event to that end that she would fuel the growth of the digital asset space in the country.

Billionaire businessman and crypto enthusiast Mark Cuban previously told Decode in July that the Harris campaign contacted the former Dallas Mavericks owner with questions about digital assets. He later said the Harris camp was “much more open” to the space than the Biden administration — and he’s not the only crypto heavyweight bullish on Kamala.

Edited by Andrew Hayward