[NEWS] Will Vice President Kamala Harris ruin her chances of winning the support of the cryptocurrency industry?

While the Republican Party's platform addressed the issue of cryptocurrencies and Bitcoin (BTC), the latest Democratic Party platform did not mention cryptocurrencies at all.

Furthermore, there is a movement to nominate SEC Chairman Gary Gensler as Treasury Secretary if Vice President Kamala Harris is elected president.

The movement around Harris to "reset the stance on cryptocurrencies" is off the table, at least as far as the official Democratic National Convention (DNC) platform is concerned.

Although technology and innovation are briefly mentioned, the platform focuses mainly on the party's "Housing Innovation Fund" and climate change, with no mention of blockchain or cryptocurrencies.

The platform mentions AI, acknowledging its "extraordinary potential," but also highlighting the risks that AI could lead to "danger."

They warn that there is a risk that AI "could be used to replicate voices, commit fraud, institutionalize bias, and undermine democracy."

What's even more problematic is the scoop that Harris may appoint Chairman Gensler as Treasury Secretary if she becomes president.

Gensler and the SEC have antagonized the cryptocurrency industry because the SEC has taken an enforcement-oriented approach to the cryptocurrency industry.

Given Gensler's SEC and the Biden administration, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Treasury Department (including Operation Chokepoint 2.0), many people in the cryptocurrency industry are not convinced that Harris will change the Democratic Party's stance on cryptocurrency.

Skepticism is also spreading about the Washington Reporter, which reported that Chairman Gensler could be appointed as Treasury Secretary. Journalist David Morris said, "Upon investigation, I found that the Washington Reporter was not a real news organization, but was run by Republican operatives. This is not news, it's political smear."

Although doubts remain about the Washington Reporter article, rumors about Gensler are circulating on social media, causing a stir.

Harris has not yet expressed her stance on cryptocurrencies

However, Harris has not yet expressed her stance on cryptocurrencies. Billionaire cryptocurrency investor Mark Cuban revealed in July that he had received questions about cryptocurrencies from the Harris campaign.

On the 14th, Crypto4Harris, a cryptocurrency advocacy group supporting Harris, held its first online meeting. The group includes Cuban, Anthony Scaramucci, founder of investment company Skybridge Capital, and cryptocurrency advocate Adam Schiff.

In the past few days, the decentralized prediction market PolyMarket has seen Trump's odds of victory rise again to 49%.

Reference: CNBC
Image: Shutterstock

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