Crypto Leaders Warn: Kamala Harris Presidency Could Spell Disaster for U.S. Digital Assets

Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange, and Charles Hoskinson, founder of Cardano, have both expressed strong concerns about Vice President Kamala Harris’s approach to cryptocurrency regulation as she prepares for a possible run in the 2024 U.S. presidential election.

Winklevoss has been particularly vocal, accusing the Biden-Harris administration of being detrimental to the digital assets industry. He said that Harris, like the current administration, would likely continue to bring bad policies that are harmful to the growth & adoption of cryptocurrencies in the U.S., such as strict regulatory measures and enforcement actions led by the Securities and Exchange Commission (SEC).

Winklevoss criticized Harris for not taking a firm stand against these crypto-hater regulatory practices, which he believes are stifling innovation and driving crypto companies out of the U.S. He suggested that if Harris does not change her stance, she risks losing the support of the crypto community, which is becoming an increasingly important voting block.

Cardano founder Hoskinson, while less direct, has echoed similar sentiments about the need for more crypto-friendly policies. 

Hoskinson noted that the current regulatory environment under the Biden administration has been challenging for the industry, and expressed doubts that Harris would bring the necessary changes.

It is worth it to note that the crypto community remains divided on Harris’s potential impact. Some crypto leaders, like San Francisco headquartered blockchain firm Ripple CEO Brad Garlinghouse, have taken a more neutral stance, acknowledging both the risks and opportunities of Harris’s possible presidency. Garlinghouse noted that Harris’s background in Silicon Valley could influence her policies, but warned against jumping to conclusions without clear policy proposals.

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