Advisers to Vice President Kamala Harris’s campaign have been actively reaching out to key players in the crypto industry in an effort to build relationships that could potentially shape future regulatory policies, sources have revealed to the Financial Times.
According to the report, recent outreach efforts have included engaging with major players in the crypto space such as Coinbase, Circle, and Ripple Labs. The message that Harris aims to convey through these interactions is that Democrats are “pro-business, responsible business.”
Harris’s rise to the top of the Democratic presidential ticket is also being viewed as an opportunity to mend ties with the tech sector, following backlash over the Biden administration’s regulatory stance, which has been perceived as unfavorable by the industry.
While the Harris campaign, Coinbase, and Circle have not yet responded to requests for comment, Ripple’s spokesperson pointed to recent remarks made by CEO Brad Garlinghouse on social media platform X. Garlinghouse urged Harris to distance herself from critics like Rep. Brad Sherman, who have been vocal opponents of crypto.
Garlinghouse emphasized the importance of embracing innovation in the US and highlighted the need for clear regulatory guidelines in the crypto space. He also noted that Harris, with her background in Silicon Valley, has the opportunity to provide a fresh perspective on issues like crypto regulation.
Meanwhile, former President Donald Trump has also been making efforts to engage with the crypto sector, signaling a shift from his previous skepticism. The presidential election has become a dividing line in Silicon Valley, with prominent figures like Marc Andreessen and Ben Horowitz backing Trump, while others like Reid Hoffman and Sheryl Sandberg endorsing Harris.
The ongoing interactions between the Harris campaign and the crypto industry, as well as Trump’s newfound interest in the sector, underscore the growing importance of digital assets in the political landscape. As the debate over crypto regulation continues to evolve, these developments could have significant implications for the future of the industry.