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Kamala Harris Signals Interest in Friendlier Stance on Crypto: Bloomberg
The cryptocurrency industry has made no secret of its displeasure with the Biden administration's approach towards regulating digital assets.
Updated Aug 22, 2024, 8:53 p.m. Published Aug 21, 2024, 8:30 p.m.
Democratic presidential candidate Kamala Harris will support policy efforts to encourage the growth of the cryptocurrency industry, one of her top campaign officials said Wednesday.
“She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow," said Brian Nelson, senior advisor for policy for the Harris campaign, speaking Wednesday during a Bloomberg roundtable at the Democratic National Convention in Chicago.
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Read more: New Binance CEO Sees No Need for IPO as He Plots 100-Year Strategy for Crypto Exchange
The growing political clout of the crypto industry is among the stories of the 2024 presidential race, with first independent candidate Robert F. Kennedy Jr. and then the GOP's Donald Trump both promising highly friendly approaches towards regulation should they take office in 2025.
The industry generally has been displeased with what it sees as the highly unfriendly regulatory approach of the Biden administration.
"Obviously, they’ve expressed that one of the things that they need are stable rules, rules of the road," continued Nelson, suggesting a Harris administration will still be interested on putting in place safeguards for an industry that has seen a number of sizable collapses in recent years.
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ECB gains backing from Council of EU for caps on digital euro holdings
Concerned that a CBDC will drain funds from traditional banks, regulators are considering caps on how much digital euro citizens can hold to ensure it's purely for payments.
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- The Council of the European Union supports the European Central Bank's plan for a digital euro, viewing it as an evolution of money and a tool for financial inclusion.
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