Charles Hoskinson Warns Against Harris, Predicts Tough Times for U.S. Crypto Industry

• Charles Hoskinson believes Kamala Harris’s presidency would severely damage the U.S. cryptocurrency industry due to the administration’s perceived hostility.
• Tyler Winklevoss criticizes the Federal Reserve’s enforcement actions against crypto-friendly banks, raising concerns about future crypto company approvals.
• Robert F. Kennedy Jr.’s pro-Bitcoin stance and proposal to acquire Bitcoin reserves have gained support from key figures in the crypto community. 

Charles Hoskinson Warns Against Kamala Harris, Citing Crypto Industry Concerns

The founder of Cardano, Charles Hoskinson, has issued a severe warning about Kamala Harris’s candidacy for the presidential election. 

If she is elected, this could be devastating for the USA cryptocurrency industry, said Hoskinson. He states that the Biden-Harris administration has always been against cryptos and he believes that they are becoming more hostile towards them.

Hoskinson responded to Tyler Winklevoss’ remarks on a Federal Reserve (Fed) enforcement action against Customers Bank which recently attacked Gemini co-founder’s bank. The central bank’s crackdown on the pro-crypto bank has raised concerns about what US regulators intend to do with digital assets.

Federal Reserve’s Action Against Crypto-Friendly Banks Sends Chills

Winklevoss criticized the Fed’s enforcement action as lacking in substance regarding alleged risks management deficiencies and anti-money laundering (AML) compliance violations. He says that requiring 30-days advance notice for new crypto banking relationships shows that the government wants to control how banks deal with cryptocurrencies.

Winklevoss also highlighted the uncertainty surrounding the Fed’s approval process for banks like Customers Bank to engage with crypto companies. He warned that under a Harris administration, the number of crypto companies approved by the Fed could drastically decline, potentially to zero.

Potential Impact on the Crypto Industry

Hoskinson echoed these concerns, stating, “The Biden-Harris White House has a war on crypto. There appears to be no reset. In fact, it appears to be even worse now. A vote for Harris is a vote against the American Crypto industry.”

 His remarks underscore a growing apprehension within the crypto community about the future of the industry under the current administration.

As Harris’s campaign gains momentum, particularly with initiatives like Crypto for Harris, there is a clear effort to win over crypto supporters. However, the skepticism from influential figures like Hoskinson and Winklevoss suggests that the crypto community remains wary.