- Paul Grewal says Coinbase is working with both Trump and Harris campaigns as they develop crypto policies for 2024.
- Trump had earlier promised to fire Gary Gensler and form a crypto advisory council to support Bitcoin and digital assets.
- Harris shows interest in exploring new approaches to crypto regulation, signaling potential policy shifts if elected.
As the 2024 U.S. presidential elections near, cryptocurrency is becoming a key issue on both sides of the political spectrum. Notably, both the Donald Trump and Kamala Harris campaigns have begun engaging with the crypto community as they craft their respective policies on digital assets. This marks the first time in a U.S. election that crypto policy has played such a prominent role.
Trump’s Strong Stance on Crypto
Former President Donald Trump has adopted a clear position on crypto, making specific promises regarding its future in the U.S. During the Bitcoin Conference in Nashville, Trump emphasized his pro-crypto agenda, vowing to fire SEC Chairman Gary Gensler and appoint a new leader who supports the growth of the digital assets sector.
He went further by promising to establish a “Bitcoin and crypto presidential advisory council” if elected. Trump’s position signals a strong commitment to boosting the crypto industry and changing the current regulatory environment, especially with the ongoing scrutiny from agencies like the SEC.
Harris Campaign’s Interest in Crypto
While the Harris campaign has not been as vocal as Trump’s, it has also begun exploring the potential of crypto. According to Paul Grewal, Chief Legal Officer of Coinbase, discussions have been initiated with both campaigns.
Notably, while the Harris camp remains less specific in its proposals, it has demonstrated an openness to considering a new approach to regulating crypto assets. Although Harris is currently part of an administration that has enforced stringent crypto regulations, her campaign is signaling a willingness to consider alternatives to the status quo.
Legislative Developments Shape the Debate
The discussion on crypto is also evolving through legislative efforts. The FIT 21 bill, which has passed the House, could play a role in shaping the future of crypto regulation. This bill aims to establish clear market structures for crypto while offering consumer and investor protections. As the Senate considers the bill, both the Trump and Harris campaigns are expected to engage further with crypto legislation as a central issue in their respective platforms.
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