Vice President Kamala Harris Vows to Support Crypto If Elected in 2024

Key Points:

• Vice President Kamala Harris pledged to promote innovation in AI and digital assets while ensuring consumer protection.
• Harris raised $27 million at a New York fundraiser, contributing to the Democratic Party’s strong August total of $361 million, surpassing Trump’s $130 million.

Vice President Kamala Harris, who will face Donald Trump in this coming November’s election, voiced her support for budding technologies such as AI and cryptocurrency at a campaign fundraiser on September 22.

Read more: Kamala Harris Proposes 28% Crypto Tax Rate For Wealthy Fairness: BBG

Vice President Kamala Harris Supports AI and Innovation in Cryptocurrency

This is Harris’s first time publicly commenting on cryptocurrencies, a growing industry in the 2024 presidential contest.

Vice President Kamala Harris, speaking at an event at Cipriani Wall Street in Manhattan, said the administration would foster innovation while safeguarding the interests of investors and consumers.

“We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors,” she said.

For an industry that has boomed over the past few years, crypto has become a top issue heading into 2024 particularly as leading executives and investors loudly decry the Biden administration’s regulatory approach.

Many crypto boosters took Harris’ remarks to be an attempt to drive home how her position is different from President Joe Biden’s. From the remarks, Harris seems to accept some value in the industry but seeks to impose consumer protections following a spate of high-profile crypto collapses.

Trump Woos Crypto Industry with Regulatory Reforms

Harris’s Republican opponent, meanwhile, has already established himself as crypto-friendly: Trump has assailed current rules and promised to boot SEC Chair Gary Gensler if he reaches the White House apparently with the goal of making the agency more friendly to crypto. Last week, he made headlines by paying for burgers with Bitcoin at a New York crypto-themed bar.

According to Bloomberg, Harris’ fundraiser attracted Wall Street donors, where contributions went from $500 to $1 million. The Vice President reportedly raised an extra $27 million for her campaign. That follows a strong financial month for Harris, where the Democratic Party raised $361 million in August versus Trump’s $130 million haul.