[NEWS] Circle CEO has high hopes for Harris' stance on cryptocurrencies

Circle CEO expects Harris campaign to take stance on cryptocurrencies Friendly efforts to understand cryptocurrencies Jeremy Allaire, CEO of stablecoin USDC issuer Circle, said in an interview with CNBC that the digital asset industry is hoping Democratic presidential candidate Kamala Harris will clearly state her position on cryptocurrencies.

Allaire said, "Both the administration and the Harris campaign are making a concerted effort to really understand the issues, the players, the industry, the policies, etc. related to cryptocurrencies. I think what the industry is clearly looking for is a clear statement from the current White House and a clear statement as part of Harris' economic policy agenda."

According to Allaire, the current administration's general unfriendliness and skepticism towards digital assets has led to a lot of talent in the industry leaving for overseas markets.

However, he noted that the White House has recently reversed its stance and is turning the situation around for the better. 

"I think they missed the boat at that point. They shipped American jobs overseas. They made construction costs in this space prohibitive and created a situation where policies were decided by the courts, not by Congress.

That's not the way to develop a new technology industry. It's the way to kill it. They totally failed at that point.

But later in the administration, they started to understand. They're trying to pass a comprehensive bipartisan bill on crypto. There's been a clear shift in direction. So there's a movement in that direction, but I think it's a little bit late."

For now, crypto voters can only speculate about Harris' views on digital assets.

The Democratic candidate has no record of speaking about Bitcoin (BTC) or other cryptocurrencies, and there was speculation that Harris would be attending a belated Bitcoin conference in Nashville in July, but she never showed up.

But there are signs that Harris is at least open to cryptocurrencies.

Harris is open to cryptocurrency

Billionaire cryptocurrency investor Mark Cuban, who attended the meeting last week, said the Harris campaign had asked "multiple questions" about cryptocurrency.

"The feedback I'm getting, and the vice president hasn't confirmed it, is that she's going to be much more open to AI, cryptocurrency, and government services," he said after the meeting.

According to Bloomberg, Harris has hired Brian Deese and Bharat Rhamamurti to help with economic policy efforts. The two are former Biden aides who are known for leading the cryptocurrency initiative.

Reference: CNBC
Image: Shutterstock

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