Kamala Harris’ VP Pick Could Be Anti-Crypto Senator Gary Peters

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

July 30, 2024

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Democratic US presidential frontrunner Kamala Harris is eyeing Michigan Senator Gary Peters as her vice presidential candidate this year.

Axios reported Tuesday that labor unions are mainly pushing for Peters’ consideration. They believe that adding the Michigan Senator could strategically strengthen the Harris ticket in the crucial battleground state.

An official from the Michigan Democratic Party told the outlet that Peters is keen on the nomination and has been actively seeking support.

Gary Peters Known As Vocal Critic of Cryptocurrencies

Senator Peters has a history of opposing cryptocurrencies

. He co-sponsored legislation aimed at combating money laundering through digital assets. But he also supported rolling back regulations that would have impacted banks holding crypto. Critics of the anti-money laundering legislation argue that it could stifle innovation and drive crypto activities underground.

Peters has previously expressed concerns about the role of cryptocurrencies in cybercrime and ransomware attacks. He has also led an investigation into how they facilitate cybercrime.

“My investigation will help us better understand how cryptocurrency can embolden cybercriminals, and identify possible policy changes that would help disrupt the incentive cryptocurrencies provide for criminal organizations and foreign adversaries to target critical public and private sector systems,” he said.

Crypto Industry Awaits Clear Stance from Kamala Harris

Kamala Harris has not spoken much about her position on cryptocurrency. However, billionaire Mark Cuban has suggested that she might be “far more open” to crypto in this election.

“Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business,” Cuban said.

The crypto industry is still waiting for a definitive position from Harris. Previously, as Vice President under Joe Biden, she was part of an administration known for its reluctance to pass regulations in Congress. Additionally, enforcement actions against crypto firms by the Securities and Exchange Commission have increased under Chairman Gary Gensler during this time.

Harris’ VP Shortlist Revealed

Vice presidential nominees often help balance a presidential ticket to attract a broader range of voters.

Reuters reported Monday that Harris is currently considering mostly white, male candidates.

She reportedly paused her campaign this weekend to have private discussions with several potential running mates, including Pennsylvania Governor Josh Shapiro.

Other candidates being evaluated are Kentucky Governor Andy Beshear, US Senator Mark Kelly from Arizona, Minnesota Governor Tim Walz, and Secretary of Transportation Pete Buttigieg.