Mark Cuban, the billionaire star of Shark Tank, has officially declared his support for Vice President Kamala Harris in the upcoming US Presidential election.

He made his endorsement public last night at the Crypto4Harris virtual event. This event aimed to rally support for Harris's campaign and urged the current administration to reconsider its stringent stance on the crypto industry.

Cuban's Endorsement

During his brief speech, Cuban introduced New York Democratic Senator Chuck Schumer. Cuban's endorsement is a significant boost for Harris, especially from a prominent business and tech community figure.

Although the event was not officially affiliated with the Harris campaign, it served as a strong platform for discussing the future of cryptocurrency in the United States.

Schumer's Call for Regulation

Senator Chuck Schumer took the stage after Cuban, delivering a powerful message on the need for common-sense regulation in the growing crypto space. According to Punchbowl News, Schumer highlighted the country's widespread use of digital assets.

He stated, "An estimated 20% of Americans use these assets, which will only grow in size and scale. I believe that Congress is responsible for providing common sense and sound regulation on crypto, and we need your support to ensure that any proposal is bipartisan."

Innovation and Legislation

Schumer emphasized that the United States must recognize the innovations brought by cryptocurrency. He believes that bipartisan support is crucial for passing sensible legislation.

Schumer explained, "Ultimately, my goal when it comes to crypto regulation is this: I want to bring members on both sides of the aisle here in the Senate together, create momentum so we can pass sensible legislation that helps the United States maintain its status as the most innovative country in the world."

Urgency in Action

Schumer also expressed urgency in addressing the regulatory framework for cryptocurrency. He aims to pass legislation by the end of the year.

He warned that delaying action could push the crypto industry overseas, causing the United States to miss significant opportunities. Schumer concluded, "We cannot afford to continue to sit on the sidelines because then we risk crypto going overseas."

The Crypto4Harris event has brought significant attention to the intersection of politics and cryptocurrency.

With influential figures like Mark Cuban and Senator Chuck Schumer advocating for thoughtful regulation, the future of crypto legislation in the United States remains a critical issue.