The countdown continues for the 60th presidential elections to be held in the US on November 5th between Trump and Harris. The November 5 elections will determine both the new president who will govern the country for 4 years and the new members of the Senate and the House of Representatives. The winner of the elections that will pit Trump and Harris against each other will be the 47th president of the US.
Because it represents the larger discussion surrounding the regulation, innovation, and economic potential of digital assets, Bitcoin has emerged as a key issue in the 2024 U.S. elections. Since both Kamala Harris and Donald Trump have discussed cryptocurrencies, it stands out in their programs.
Political disagreements about financial freedom, innovation, and government control are reflected in the divergent opinions on Bitcoin during the U.S. election. As cryptocurrency gains popularity, it comes into contact with more conventional political topics, such as economic policy and regulatory supervision. For voters interested in financial technology and innovation, the stances that candidates adopt on Bitcoin are important because they could affect how the industry develops and is regulated in the years to come.
Let’s take a look at what Harris and then Trump said about crypto.
At last, Kamala Harris speaks out about cryptocurrency
For the first time, Kamala Harris has discussed cryptocurrency in public, emphasizing consumer protections while promising support for the sector.
During her campaign for the US presidency, US Vice President Kamala Harris made her first public remarks regarding cryptocurrency. Harris pledged to promote investment in digital assets and artificial intelligence in remarks made at a Wall Street event.
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” Harris said at a fundraiser in Manhattan, Bloomberg reported on Sept. 22.
Harris hasn’t discussed cryptocurrency in public since she emerged as the Democratic Party’s front-runner for president. Donald Trump, her Republican opponent, has also attempted to win over the cryptocurrency sector.
Brian Nelson, Harris’ chief campaign strategist, made a suggestion in August. He said if she were elected president in November, she would be in favor of crypto measures. But given that some businesses have failed, she said the sector requires “rules of the road.”
Kamala Harris stated that the candidate would “support policies that ensure that emerging technologies and that sort of industry can continue to grow.”
This statement may represent a shift from the Harris campaign’s previous approach. Because the campaign has been largely silent on digital assets in the past.
Despite being seen as weak on substantive policy, this shift could suggest a new focus. Furthermore, her campaign might now include a message that advocates for innovation.
In addition, it may outline clear guidelines for the cryptocurrency sector. Also, made specific appointments that imply she could take a different path if elected president.
The absence of an anti-crypto message in Harris’ campaign is a clear sign that her presidency would deviate from Biden’s approach.
You can find more detailed information here about Harris’ crypto journey.
Trump’s embrace of Bitcoin
Crypto has turned become a campaign topic. According to a Public Citizen article, US cryptocurrency firms Coinbase, Ripple, and Gemini have spent around $120 million. They wanted to sway the elections in November.
Trump has already embraced the crypto business, supported his family’s cryptocurrency company, and published four collections of non-fungible tokens.
He has pledged to be a “crypto president” and to fire Gary Gensler, the chair of the US Securities and Exchange Commission, whose organization has brought many enforcement cases against the nation’s biggest cryptocurrency players.
Harris and Trump are even in national surveys, with Harris leading Trump by just 2.9 percentage points.
Donald Trump appeals to cryptocurrency voters at the final minute.
The Republican presidential contender reaffirmed his promises. He said all Bitcoin be “made in the USA” and that Ross Ulbricht will be pardoned.
Trump used his social media platform to remind voters of his campaign pledges. They were about cryptocurrency with less than a week till Election Day in the United States and many individuals casting early ballots.
Trump urged his approximately 8 million followers to support him in the 2024 race in tweets.
To wishing the Bitcoin whitepaper a “Happy 16th Anniversary,” the message purports to put an end to US Vice President Kamala Harris’ “war on crypto,” even though the Democratic contender has promised to back the sector if elected.
In pivotal battleground states, where the outcome of the Electoral College vote is expected to be determined, Vice President Harris and Trump were tied in the majority of surveys as of October.
In Georgia, Texas, Arizona, portions of Idaho, Utah, and Nevada, early voting will conclude on November 1. However in the other states, voting will continue until Election Day on November 5.
Now that reelection is just a flip of a coin, has Trump gone from being a crypto skeptic to a supporter?
In 2021, Trump called Bitcoin a “scam” and said it was founded on “thin air” while he was in office. He has made a number of statements as a presidential contender that may have an impact on the sector. Such as vows to pardon Ross Ulbricht, the founder of Silk Road.
Trump wins over cryptocurrency voters, but Harris loses out.
Trump has positioned himself as a pro-Bitcoin candidate after realizing this and actively interacting with crypto enthusiasts.
Despite security concerns, he went to the 2024 Bitcoin Conference. He introduced a fourth series of NFT trading cards and sneakers with a Bitcoin motif. In addition, he founded World Liberty Financial.
Trump’s involvement, supported by powerful individuals like Michael Saylor and Elon Musk, stands in contrast to Harris’s restricted reach.
Among Harris’s initiatives are her “Crypto for Harris” campaign and a speech she gave at The Economic Club of Pittsburgh advocating for blockchain technology.
With just a few days left, it will be interesting to observe whether Trump’s plan centered on cryptocurrency succeeds in the final vote.
You can find more content here about Trump’s crypto journey.
Conclusion
The increasing attention being paid to cryptocurrencies as the 2024 U.S. presidential election draws nearer emphasizes how politics and financial technology are changing together. Both Donald Trump and Kamala Harris have positioned themselves with different stances on digital assets, indicating how future leadership may influence the legal and technological environment of this quickly changing industry. Trump’s program aggressively supports deregulation and the crypto community, whereas Harris stresses balanced innovation and consumer protection. For voters interested in the direction of digital money, this election is especially important because to the divergent views on Bitcoin and more general crypto regulations. In the end, what happens on November 5 will decide not only who will be the next president of the United States, but also how Bitcoin policy will develop in the years to come.