Incumbent US Vice President and Democrat presidential candidate Kamala Harris is resetting her stance on crypto. Recently, reports surfaced about Harris’ campaign contacting crypto industry leaders to mend fences.
A crypto journalist revealed that Congressman Ro Khanna from California is preparing to host a roundtable meeting with digital asset industry leaders and other influential figures in Washington.
🚨SCOOP: CA Congressman @RoKhanna is hosting another meeting in Washington on Monday for #crypto industry leaders, Democratic politicians, and reps from the @KamalaHarris campaign. Move represents renewed push from pro-crypto Dems to establish a fresh start with the industry.
— Eleanor Terrett (@EleanorTerrett) August 1, 2024
The vice president’s sudden shift in stance raises questions among crypto community members. Some believe Trump’s massive support from the industry spurred Harris’ recent move.
Democrats to Host a Roundtable with Crypto Leaders
The roundtable meeting on Monday will feature top digital asset personalities, Democratic politicians, and other influential political figures. FOX Business journalist Eleanor Terrett also revealed that Kamala Harris’ campaign representatives will attend.
This development demonstrates the efforts of pro-crypto Democrats to mend the party’s relationship with the digital asset industry. It also signals a step forward in cryptocurrency adoption and a pivotal policy shift in the United States.
However, Vice President Harris’ sudden adoption of a pro-crypto stance has attracted criticism. Pro-crypto Senator Bill Hagerty from Tennessee expressed a strong opinion against Harris’ new campaign strategy.
Hagerty believes former President Donald Trump’s success at the Bitcoin 2024 conference in Nashville spurred Kamala’s new stance.
The senator said:
“It’s no surprise that after witnessing the monumental success of President Donald Trump at the Bitcoin conference in Nashville, Kamala Harris is, as she has on many other issues, making a desperate last-minute 180-degree flip to appear pro-crypto.”
Also, Senator Hagerty condemned the Biden-Harris administration’s anti-crypto policies, describing them as egregiously anti-innovation and anti-crypto.
Further, Hagerty noted that Harris’ recent stance contradicts the Biden administration’s past actions. He said:
“Unfortunately for her, what can be is burdened by what has been three and a half years of egregiously anti-crypto and anti-innovation policies of the Biden-Harris Administration.”
Senator Hagerty believes Harris’s last-minute shift to a pro-crypto stance will not sway the crypto community. He highlighted that President Trump’s reception at the just-concluded Bitcoin conference reflects a stronger acceptance among crypto enthusiasts.
The senator affirmed the Republican Party’s support for and from crypto, noting that Kamala’s last-minute shift won’t change that.
Harris’ Win Odds Increase as Trump’s Odds Decline
Despite Senator Hagerty’s opinions, Kamala Harris’ new stance has gained her some good credit.
According to data from the prediction marketplace Polymarket, Kamala Harris’ election odds have increased by more than 16%. On the other hand, Trump’s election odds have declined by 18%, suggesting a shift in stance among potential voters.
Current data shows that Harris’ odds peaked at 45%, while Donald Trump’s election odds declined to 54% from 72%.
Harris’ rising winning odds raise questions about whether her new stance has swayed the digital asset community. Congressman Ro Khanna, the convener of the upcoming roundtable, is optimistic that the discussions will yield positive outcomes.
Meanwhile, the crypto industry remains skeptical about Harris’ shift in campaign strategy to pro-crypto. Gemini co-founder Tyler Winklevoss expressed skepticism over Kamala’s sudden change.
He doubted the possibility of Harris firing SEC Chair Gary Gensler. According to Tyler Winklevoss, “Talk is cheap;” there’s no guarantee the Vice President will fire Gensler when she wins. He urged Harris to fire Gensler immediately as proof of her support for the industry.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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