Reaching the coin sensor… Vice President Kamala Harris' campaign on Monday announced support for a “regulatory framework” for cryptocurrencies and digital assets aimed at protecting investors. The cryptocurrency push is part of Harris' Opportunity Agenda for Black Men, which includes legalizing cannabis at the federal level and providing forgivable loans to entrepreneurs. Reference: Harris campaign says more than 20% of Black Americans own or have owned cryptocurrencies.
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Join the party: Harris has not talked much about cryptocurrencies so far, but her proposal has caught the attention of the industry. Bitcoin and ether both It rose more than 5% on Monday.
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Moon Promise: Former President Donald Trump has promised industry-friendly regulation and talked about creating a Bitcoin “stockpile.” In 2021, he called Bitcoin a “scam.”
The final sprint… The cryptocurrency industry is spending large sums of money in preparation for next month's elections. According to OpenSecrets, a nonpartisan organization that tracks election spending, coinbase and co-founder ripple Each recently donated $1 million to a PAC supporting Harris. Super PACs supporting Trump have received millions of dollars from crypto industry heavyweights, including: gemini Founders Cameron Winklevoss and Tyler Winklevoss. Meanwhile, anti-vote spending by the pro-cryptocurrency super PAC Fairshake, whose biggest donors are Coinbase and Ripple, exceeded $36 million. Pro-cryptocurrency super PACs Defend American Jobs and Protect Progress spent more than $90 million combined in the federal election.
