- 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 latest issues voiced by Galaxy Digital’s Head of Analysis, Alex Thorn, relating to Vice President Kamala Harris’ tough stance on cryptocurrency, Democratic Senator Chuck Schumer has emerged as a shocking advocate for the trade.
Schumer backs Harris
Talking on the Crypto4Harris Town Hall, 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 can not afford to proceed to take a seat on the sidelines as a result of then we danger crypto going abroad to lowest widespread denominator international locations the place there might be no regulation in any respect.”
The rise in crypto adoption
As anticipated, recognizing the numerous progress and affect of cryptocurrency over the previous decade, Schumer hinted {that a} Harris administration may not be fully anti-crypto.
He additionally expressed his dedication to pushing for pro-crypto laws within the U.S., aiming to realize this by the top of the 12 months if Harris turns into president.
“I wish to carry members on either side of the aisle right here within the Senate collectively, create momentum so we are able to go smart laws that helps the USA keep its standing as probably the most revolutionary nation on the earth.”
Crypto dealt with within the US up to now
That brings us again to the Biden administration’s dealing with of cryptocurrency, which had turned it right into a partisan subject, significantly through the passage of the numerous SAB 121 bill.
Nonetheless, right here it’s vital 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 Conference.
Nonetheless, Harris has managed to realize important traction with only one occasion.
Harris tops Polymarket
The Crypto4Harris initiative propelled her to the top 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% 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 Get together through the Crypto4Harris occasion, when he said,
“Republicans couldn’t care much less. They only wish 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 duty to offer commonsense and sound rules for crypto.”
And because it’s apparent, this doesn’t indicate that Schumer was in favor of Trump. The truth is, he made his help for Harris very clear when he said,
“We’re right here immediately as a result of all of us help Vice President Kamala Harris to be our subsequent president and all of us imagine in the way forward for crypto.”
