Chuck Schumer to Address Digital Asset Advocates at Crypto For Harris

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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August 14, 2024

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Senate Majority Leader Chuck Schumer is scheduled to speak this Wednesday evening at a virtual “Crypto for Harris” town hall.

According to a report by Politico, Schumer will join other lawmakers and industry insiders at the event, supporting Vice President Kamala Harris’s presidential campaign and advocating for pro-crypto policies.

Schumer, Gillibrand, and House Representatives to Headline “Crypto for Harris” Town Hall

This virtual event is shaping up to be a major showing of Democratic support for Vice President Kamala Harris’s presidential campaign, signaling a push to strengthen ties between the party and the cryptocurrency sector ahead of the 2024 election.

Senate Majority Leader Chuck Schumer and Senator Kirsten Gillibrand are both slated to deliver keynote speeches at the event.

Senator Gillibrand has a history of advocating for the crypto industry, consistently pushing for favorable legislation during her time in the Senate. Her participation in the town hall suggests that a potential Harris administration would prioritize creating a regulatory framework conducive to the industry’s growth.

Schumer, who has previously backed efforts to overturn certain Securities and Exchange Commission (SEC) regulations impacting the crypto industry, has also expressed interest in developing a comprehensive crypto regulatory framework in the Senate.

Joining Schumer and Gillibrand are a number of House Democrats, including Representatives Yadira Caraveo (CO), Don Davis (BC), Adam Schiff (CA), Josh Harder (CA), and Ritchie Torres (NY), as confirmed by event organizer Jonathan Padilla.

This strong turnout from lawmakers, alongside industry leaders like Michael Cuban and Cathy Wood, suggests that Kamala Harris may be incorporating a pro-crypto stance into her campaign strategy to appeal to voters, particularly those involved in the cryptocurrency space.

Ramaswamy Recommends Clearer Crypto Guidelines

According to former presidential candidate Vivek Ramaswamy, Harris could potentially use crypto-friendly language to connect with the digital asset community, following the example set by Republican nominee Donald Trump.

He emphasized that even if her stance differs from others in the political landscape, it could still contribute positively to the national debate on cryptocurrency regulation.

“I think that’s a good thing,” said Ramaswamy. “I think we should want great debate in the marketplace of ideas. Even if she offers a thoughtful digital asset framework or policy – even if I don’t agree with all of it – I think that’ll be a good thing for the country.”

However, Ramaswamy challenged Harris to go beyond vague statements and clearly define her views on key crypto-related issues, such as asset self-custody and the future leadership of the SEC.

“Say what you actually believe about self-custody of assets; say what you actually believe about whether Gary Gensler should continue as the leader of the SEC. So I think those specifics are going to matter a lot,” stated Ramaswamy.