Ripple CEO Brad Garlinghouse wants United States Vice President Kamala Harris to be clear on crypto regulation. His comments come following the administration’s digital currency policy and growing discussion about it The return of V.P. From Bitcoin Conference 2024.
Many crypto market fans expected Harris to attend the meeting. They felt it would reflect her soft stance on the digital currency. David Bailey, CEO of the world’s largest bitcoin conference, revealed that Harris has decided not to speak at the event.
Kamala Harris under the lens
Garlinghouse has advocated for keeping political bias aside when evaluating presidential candidates. His comments come after comments by Paradigm policy director Justin Slaughter about the potential impact of US Vice President Kamala Harris running for president.
Jumping to conclusions and assumptions about candidates based solely on political affiliation without any policy proposals is holding the crypto industry back (similar to how tribalism has been going on for years).
Vice President Harris is no stranger to Silicon Valley and has an incredible opportunity…
— Brad Garlinghouse (@bgarlinghouse) July 24, 2024
Arguing that tribalism and political bias have hindered development The Crypto SectorGarlinghouse supports focusing on policy ideas rather than political connections.
Garlinghouse’s comments reflect a growing stance among crypto leaders who believe political forces have been dominating important policy debates.
“We need to evaluate candidates not just based on their party line, but on their policy commitments,” Garlinghouse said.
This approach underscores the ongoing debate within the sector about how to deal with the difficult political landscape, which has recently become more intertwined with cryptocurrencies.
Harris’ potential impact: A double-edged sword
Slaughter’s most recent X post drew attention to the big changes Kamala Harris would bring about if elected president.
Slaughter claims Harris is set to completely overhaul key national security positions, perhaps firing Biden’s current political advisers. This suggested “reform” has raised questions about how it would affect US policy on key matters, including regulation of bitcoin and crypto.
Harris has been a candidate for roughly 12 hours, and she has already made clear that Biden’s key national security advisers will not be kept on for another term.
No one in the Biden administration should assume they will keep their job in a Harris administration. A significant reset is increasingly likely.
— Justin Slaughter (@JBSDC) July 23, 2024
Garlinghouse’s response to Slater’s assessment highlights both hope and caution. Although he worries about Harris’s inclination toward anti-crypto discourse like that of Senator Elizabeth Warren, he also notes Harris’s broad understanding of Silicon Valley.
Garlinghouse said this understanding could help resolve legal hurdles facing the crypto sector.
Voters on cryptocurrencies: A changing stance
Interestingly, many crypto fans have turned to the Republican candidate Donald Trump President Joe Biden’s administration, led by SEC Chairman Gary Gensler, has come under fire for its tough enforcement policies.
Voters who feel disadvantaged by current regulations have found resonance in Trump’s promises of favorable measures for the crypto industry.
The impact on crypto voters is still unknown as Harris’ candidacy develops. The industry is solely focused on any legislative changes that would either encourage or discourage innovation.
Meanwhile, billionaire Mark Cuban thought Kamala Harris might take longer A business-friendly approach to bitcoin And A.I. Although it has not been confirmed, Harris’ advisers say she is more sympathetic to these ventures than her prior policies.
All things considered, Garlinghouse’s endorsement of a policy-oriented approach reflects a larger movement towards more complex political assessments among the crypto community. The debate over how to best help the sector in a changing political environment evolves as the US presidential election approaches.
Featured image via Getty Images, chart via TradingView
