Coinbase CLO Paul Grewal “Encouraged” By Harris Campaign’s Pursuit Of “New Approach” To Crypto: Bloomberg TV

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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September 3, 2024

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Coinbase CLO Paul Grewal revealed in a Tuesday Bloomberg TV appearance that he’s “encouraged” by efforts made by Kamala Harris’ campaign that may signify her “new approach” to crypto.

Coinbase CLO Paul Grewal Talks Politics

Noting that both the Democratic nominee and Republican pick Donald Trump’s camps have been “in touch” over digital asset policy regulation, the crypto exhange’s legal head said that while Trump has endorsed the crypto sector more “explicitly” on the campaign trail, there are signs that Harris may also embrace the blockchain industry.

“We’ve been encouraged even as the current administration under Gary Gensler continues with its campaign of regulation-by-enforcement, the Harris campaign – which of course stands separate from the administration – has reached out, has expressed interest, and has begun discussions to what a new approach to crypto and digital assets could look like,” Grewal said.

Equally important, the Coinbase executive claimed that no matter the results of this year’s elections, the federal legislature is heading in a crypto-friendly direction.

“I think there’s no question about it: we are going to see a pro-crypto congress regardless of the particular outcome in individual races and of course the outcome in the presidential race,” Grewal said.

Donald Trump Versus Kamala Harris

Grewal’s commentary comes at a pivotal point in the election cycle with less than two months for both Trump and Harris face off at the ballot box in November.

Reports show that Harris could be more open to digital assets than her predecessor, U.S. President Joe Biden, though she has yet to release any formal policy framework on the matter.

Meanwhile, Trump has continued to tout his support of the sector as a whole, most recently endorsing his sons’ upcoming crypto platform, World Liberty Financial.

In new footage released on Donald Trump’s official social media teasing the venture last week, the now convicted businessman promised to make America “the crypto capital of the planet.”

Meanwhile, the crypto community at large has largely found issue with United States Securities and Exchange Commission’s current regulatory strategy toward the blockchain sector as a whole.

Trump has previously vowed to remove the SEC chair if elected; however, with him currently trailing in national polls, the likelihood of this happening is unclear.

“If the U.S. actually wants to protect investors and consumers, it’s kinda simple: more legislation, less litigation,” Grewal wrote in a September 3 X post.