- Schumer advocated for bipartisan pro-crypto laws amid Harris’ marketing campaign.
- Harris gained traction over Trump in a crypto-focused Polymarket prediction.
In a placing distinction to the current considerations voiced by Galaxy Digital’s Head of Analysis, Alex Thorn, relating to Vice President Kamala Harris’ powerful stance on cryptocurrency, Democratic Senator Chuck Schumer has emerged as a shocking advocate for the business.
Schumer backs Harris
Talking on the Crypto4Harris City Corridor, a grassroots initiative selling a crypto-friendly agenda inside the Harris marketing campaign, Schumer, the bulk chief of the US Senate, emphasised the urgency of embracing cryptocurrency innovation within the U.S.
He mentioned,
“We cannot afford to continue to sit on the sidelines because then we risk crypto going overseas to lowest common denominator countries where there will be no regulation at all.”
The rise in crypto adoption
As anticipated, recognizing the numerous progress and influence of cryptocurrency over the previous decade, Schumer hinted {that a} Harris administration may not be solely anti-crypto.
He additionally expressed his dedication to pushing for pro-crypto laws within the U.S., aiming to attain this by the top of the 12 months if Harris turns into president.
“I want to bring members on both sides of the aisle here in the Senate together, create momentum so we can pass sensible legislation that helps the United States maintain its status as the most innovative country in the world.”
Crypto dealt with within the US to this point
That brings us again to the Biden administration’s dealing with of cryptocurrency, which had turned it right into a partisan difficulty, significantly throughout the passage of the numerous SAB 121 invoice.
Nevertheless, right here it’s essential to notice that regardless of the Crypto4Harris occasion, Vice President Harris has but to totally articulate her stance on pro-crypto insurance policies.
In distinction, former President Donald Trump has actively embraced cryptocurrency all through his marketing campaign, from Bitcoin-themed sneakers to NFT dinners and appearances at main crypto occasions just like the Bitcoin Convention.
Nevertheless, Harris has managed to achieve important traction with only one occasion.
Harris tops Polymarket
The Crypto4Harris initiative propelled her to the highest of the Polymarket prediction market, the place she initially tied with Trump at 49% odds of profitable.
Following this occasion, Harris started to outpace Trump, and up to date updates present her main with a 54% probability, whereas Trump’s assist has dropped from 72% to 45%.
Supply: Polymarket
That being mentioned, billionaire investor Mark Cuban additionally took the chance to criticize Trump and the Republican Social gathering throughout the Crypto4Harris occasion, when he said,
“Republicans couldn’t care less. They just want to see the Bitcoin maxis get richer.”
What’s extra to it?
Nevertheless, based mostly on Schumer’s phrases, it appears clear that,
“Congress has a responsibility to provide common-sense and sound regulations for crypto.”
And because it’s apparent, this doesn’t suggest that Schumer was in favor of Trump. In reality, he made his assist for Harris very clear when he said,
“We are here today because we all support Vice President Kamala Harris to be our next president and we all believe in the future of crypto.”
