Kamala Harris Reaches Out to Crypto Firms as Democrats Shift Stance

Kamala Harris is reportedly engaging with major cryptocurrency firms to address her party's previous skepticism towards the industry.

According to the Financial Times, Harris’s team has reached out to leading crypto companies such as Coinbase, Ripple Labs, and Circle. However, while Harris’s office, Coinbase, and Ripple have all declined to comment, Circle has not responded to inquiries from the Financial Times.

A source close to Harris’s campaign revealed that the vice president aims to convey that the Democratic Party now supports “pro-business, responsible business” practices. This outreach reflects a shift from the party’s earlier stance on cryptocurrency.

In contrast, Republican candidate Donald Trump has embraced a pro-crypto position, actively seeking the support of cryptocurrency advocates. At the Bitcoin2024 conference in Nashville, Trump vowed to dismiss SEC Chair Gary Gensler and reverse regulations that hinder the use of digital assets.

He also promised to stop selling the U.S. government’s seized Bitcoin and instead hold it strategically as an investment.

Trump’s vision includes making the U.S. a global leader in cryptocurrency, emphasizing a policy to retain all Bitcoin held or acquired by the government. He envisions this approach as central to creating a national Bitcoin reserve and positioning the U.S. as a dominant force in the crypto world.