- Schumer advocated for bipartisan pro-crypto laws amid Harris’ marketing campaign.
- Harris gained traction over Trump in a crypto-focused Polymarket prediction.
In a putting distinction to the current considerations voiced by Galaxy Digital’s Head of Analysis, Alex Thorn, concerning Vice President Kamala Harris’ robust stance on cryptocurrency, Democratic Senator Chuck Schumer has emerged as a stunning advocate for the trade.
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 USA 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 development and influence of cryptocurrency over the previous decade, Schumer hinted {that a} Harris administration won’t be solely anti-crypto.
He additionally expressed his dedication to pushing for pro-crypto laws within the U.S., aiming to realize this by the tip of the yr 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 situation, significantly through the passage of the numerous SAB 121 invoice.
Nonetheless, right here it’s essential to notice that regardless of the Crypto4Harris occasion, Vice President Harris has but to completely 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.
Nonetheless, Harris has managed to realize vital 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 successful.
Following this occasion, Harris started to outpace Trump, and up to date updates present her main with a 54% likelihood, whereas Trump’s help 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 Celebration through 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?
Nonetheless, 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 indicate that Schumer was in favor of Trump. In actual fact, he made his help 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.”
