Trump vs. Harris: What Do They Think About Cryptocurrency?
Date: 2024-11-04 Author: Henry Casey Categories: CRYPTO PAYMENTS, IN WORLD
While issues such as the economy, taxes, and healthcare remain important, the candidates’ attitudes toward digital assets also play a significant role in the election race.
Cryptocurrency has become a topic of interest to both Democrats and Republicans in recent years. One reason for this is that cryptocurrency investors include many voters whose votes could influence the outcome of the election. According to a survey by Consensys and HarrisX, 92% of crypto investors plan to vote, with cryptocurrency being a determining factor in choosing a candidate for 11%.
Comparing the positions of Donald Trump and Kamala Harris, one can see that each of them has a different approach to cryptocurrency. Trump, who actively supports the industry, has been in the race longer, which has allowed him to create a clearer strategy. Harris, on the other hand, was forced to enter the presidential race at the last minute when Joe Biden suddenly dropped out of the race.
In his public speeches, Trump has repeatedly spoken out in favor of the development of the cryptocurrency sector. One of his proposals was to fire SEC Chairman Gary Gensler, which, according to some experts, is not so easy to implement. On the other hand, Harris in her campaign documents hinted at support for cryptocurrencies, especially in the context of financial inclusion for groups with limited access to traditional financial services.
Trump's plan includes the creation of a strategic reserve of bitcoins, a refusal to sell confiscated crypto assets, a ban on the launch of a central bank digital currency in the United States, and the involvement of an advisory board on cryptocurrencies. Although his ideas seem ambitious, one wonders how feasible they are, especially with regard to bitcoin mining, which he proposes to move entirely to the United States.
Harris, in turn, focuses on tax policy, promising to keep low taxes for households with incomes up to $400,000 per year, but to increase capital gains taxes for those earning over $1 million. She also proposed a new tax on unrealized gains for wealthy citizens, which could affect cryptocurrency owners.
As for the candidates’ personal investments in cryptocurrency, only Trump has demonstrated open participation in this market. Harris invests in exchange-traded funds, but among them there are no funds that follow the Bitcoin rate, the popularity of which has increased dramatically after the SEC’s approval.
With each passing day, the elections are getting closer, and there is optimism among cryptocurrency market participants. Regardless of the outcome, one thing is clear: the winner will be able to significantly influence the Bitcoin rate and the future of the crypto industry in the United States.
