Vice President Kamala Harris’s campaign is partnering with leading crypto companies to develop a favorable regulatory structure for the crypto industry, with a focus on supporting business growth.
The outreach initiative encompasses Coinbase, Circle, and Ripple Labs, as a means to mend relations with the technology industry, which has expressed disapproval of the regulatory position taken by the Biden administration.
Harris’s campaign tries to convey the image that Democrats are supportive of businesses and advocate for good business practices. Additionally, they intend to adopt a more cooperative approach to regulating crypto.
Brad Garlinghouse, the CEO of Ripple Labs, has advised Harris to separate herself from individuals who oppose cryptocurrencies and instead support and adopt innovative solutions. Harris’s knowledge and experience with Silicon Valley create a chance to establish new regulations. Mark Cuban, a billionaire who supports cryptocurrencies, has shown hope over the outreach campaign.
The campaign arises amidst the presidential race serving as a significant point of contention in Silicon Valley, where certain influential figures in the tech industry are supporting Donald Trump, who is in favor of cryptocurrencies, while others like Reid Hoffman and Sheryl Sandberg have publicly expressed their endorsement of Harris.
The crypto sector is expected to have a substantial impact on the election as both candidates strive to position themselves as advocates for innovation and advancement.
Days ago, Ripple CEO Brad Garlinghouse requested Kamala Harris to provide a clear explanation of her position on crypto regulation in light of ongoing discussions over the government’s policies on digital currency.
