Kamala Harris Finds Ally In Ripple CEO Amid Crypto Backlash
Christian Encila by Christian Encila
Many crypto market fans hoped Harris will attend the meeting. They thought it showed her softening on digital currency. David Bailey, the CEO of the world’s biggest Bitcoin conference, disclosed that Harris has decided not to speak at the event.
Kamala Harris Under The Lens
In assessing presidential candidates, Garlinghouse has advocated a break from political bias. His comment followed the observations of Policy Director Justin Slaughter of Paradigm on the possible influence of US Vice President Kamala Harris should she run for president.
Arguing that tribalism and political prejudice have hampered the growth of the crypto sector, Garlinghouse supports a focus on policy ideas instead of political ties.
The remarks of Garlinghouse capture the increasing attitude of crypto leaders who believe that political forces have dominated important policy debates.
“We have to evaluate candidates based on their policy pledges rather than only their party lines,” Garlinghouse said.
This point of view underscores the continuous discussion within the sector on how to negotiate the difficult political terrain that has been, of late, become more intertwined with cryptocurrency.
The Potential Impact Of Harris: A Two-Edged Sword
Slaughter’s most recent X post attracted notice for the major changes Kamala Harris would bring about should she be elected president.
Slaughter claims that Harris is ready to completely replace important national security positions, maybe firing present Biden’s political advisers. This suggested “reformat” has sparked questions over how it would affect US policy on important matters including regulation on Bitcoin and crypto as a whole.
Garlinghouse’s reply to Slaughter’s evaluation exposes both hope and caution. Though he is concerned about Harris’s inclination towards a discourse like that of anti-crypto Senator Elizabeth Warren, he also notes Harris’ broad understanding of Silicon Valley.
This understanding could help to solve the legal obstacles the crypto sector encounters, Garlinghouse said.
Voters On Cryptocurrencies: A Changing Tide
Interestingly, many crypto aficionados have turned to Republican nominee Donald Trump as President Joe Biden’s government, headed by SEC Chair Gary Gensler, comes under fire for strict enforcement policies.
Voters who feel excluded by present rules have found resonance in Trump’s pledges of favorable measures for the crypto industry.
The effect on crypto voters is yet unknown as Harris’s candidature develops. The industry is totally focused on any legislative changes that would either encourage or discourage innovation.
Meanwhile, billionaire Mark Cuban thought Kamala Harris may take a more business-friendly approach to bitcoin and AI. Although not verified, Harris’s advisors say she may be more sympathetic to these enterprises than her prior policies.
All things considered, Garlinghouse’s support of a policy-oriented approach mirrors a larger movement among the crypto community for more complex political assessments. The argument on how best to help the sector among changing political environments develops as the US presidential election draws near.
Featured image from Getty Images, chart from TradingView
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