Kamala Harris Misses Out on Chance to Win Over Crypto Voters
Date: 2024-08-20 Author: Gabriel Deangelo Categories: IN WORLD
At the “Crypto4Harris” event, Harris had a chance to reclaim the ground that Donald Trump solidified after his speech at the Bitcoin 2024 conference in Nashville. It was an opportunity to reassure a growing group of crypto voters and promise to lift the restrictions imposed by the Biden administration.
But she didn’t take advantage of it.
Or rather, her campaign missed it. Harris’s only appearance at the event was as a logo in the upper-right corner of the screen. Harris didn’t attend in person, and no statements were made or specific points presented.
Instead, crypto enthusiasts desperate for positive news from the political left were treated to a token approach. They were treated to a “Look how important crypto is to us!” Senate Majority Leader Chuck Schumer even said he “made time in his schedule” for the event (thanks, Chuck).
But despite the big names in the early going — Schumer was introduced by Mark Cuban, who also didn’t show up — viewers quickly realized there wasn’t going to be much discussion. It was more of a rally and fundraiser than anything voters were likely to actually care about.
Schumer’s presence certainly mattered. The New York senator played a key role in trying to overturn SEC SAB-121 earlier this year. The SEC regulation set harsh and inappropriate accounting standards for crypto assets, and it seemed poised to be overturned after successful votes in the House and Senate.
But President Joe Biden vetoed the measure, leaving SAB-121 in place despite bipartisan efforts to overturn it. Schumer’s leadership on this issue has separated him from the current administration on cryptocurrency, which has diminished the significance of his appearance at the event.
His speech was rather general and low-key, as if he had been asked not to make any announcements until the Harris campaign had formed its crypto platform. Schumer spoke 1,309 words in his speech, but not one about Bitcoin.
Voters want regulation, that’s a fact. They want scams to go away and new technologies to develop. But they also want to know about their current investments. They want to know that their Bitcoin is safe, that they are allowed to mine it, and that the government won’t monitor how they use it.
Many of the headlines after the event were about Schumer’s promise to “pass legislation by the end of this year.” But what does that mean?
If this isn’t Harris’ initiative, why should voters change their minds now? Who can guarantee that the veto won’t be used again?
So Crypto4Harris wasn’t a big success. What’s next? Harris' campaign will still have a chance to win over crypto voters, but they need to move faster.
