Senator Kirsten Gillibrand Sings Kamala Harris’ Praises At Crypto Town Hall

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Julia Smith

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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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August 15, 2024 14:53 EDT

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Senator Kirsten Gillibrand (D-NY) hinted that presumptive Democratic nominee Kamala Harris would facilitate a “balanced approach” to digital asset regulation should she defeat Republican nominee Donald Trump this November, the lawmaker revealed at a Crypto For Harris town hall Wednesday night.

Senator Kirsten Gillibrand Speaks At Crypto For Harris Event

“We’ve been working hard to develop a comprehensive cryptocurrency framework that enables entrepreneurs and businesses to innovate responsibly while also protecting consumers and cracking down on bad actors,” Gillibrand told attendees of the crypto event. “Significant progress has been made and we’ve heard members of this administration encourage our work. Like you, they understand that regulatory clarity is good for everyone. I’m sure that a future Harris administration would understand and facilitate that kind of balanced approach.”

Gillibrand was just one of many political figures who spoke at the Democratic crypto collective’s first town hall this week, which featured a keynote address by fellow New York Senator Chuck Schumer (D-NY) promising key crypto legislation this year.

“Crypto is here to stay, no matter what, so Congress must get it right,” Schumer said.

Is Kamala Harris Really Open To Crypto?

Most recently, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), though no formal wide reaching crypto regulatory framework has been put in place, driving concern from members of the crypto community that the lack of clarity may drive crypto companies overseas.

Trump, meanwhile, has lauded the blockchain sector as a whole on the campaign trail. During a speaking engagement at the Bitcoin Conference 2024 last month, the former reality television star promised attendees that he would deliver on crypto-friendly regulations.

“We will have regulations, but from now on the rules will be written by the people who love your industry, not hate your industry,” Trump said.

While Harris has remained quiet on her stance on digital assets, critics argue her association with current U.S. President Joe Biden’s administration may hurt her chances of winning over crypto voters due to its support of stringent crypto regulatory measures.

However, billionaire Mark Cuban recently told media outlet Politico that Harris could be more “open” to embracing the world of digital assets.

“The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, (artificial intelligence), crypto, and government as a service,” Cuban said. “Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business.”