The Democrats have reportedly launched a new campaign to win support from crypto voters and strengthen Kamala Harris's campaign. This move comes amidst growing concerns within the cryptocurrency community about the current administration's stance toward digital assets.

Hoskinson's Warning

Charles Hoskinson, the founder of Cardano, warned that voting for Kamala Harris in the upcoming presidential election would be a vote against the interests of the U.S. crypto industry.

Hoskinson believes the Biden-Harris administration's perceived hostility toward cryptocurrency is intensifying, with no signs of improvement or a 'reset' in their approach.

'As I have repeatedly said, the Biden-Harris Whitehouse has a war on crypto. There appears to be no reset. It appears to be even worse now. A vote for Harris is against the American Crypto industry,' Hoskinson said in a recent post on X.

Federal Reserve Scrutiny

Hoskinson's statement was a response to Tyler Winklevoss' critical remarks about the Federal Reserve's (Fed) recent move against Customers Bank, the principal subsidiary of Customers Bancorp and a known crypto-friendly bank.

Winklevoss asserted that the Fed's enforcement action against Customers Bank lacked concrete evidence supporting the claimed deficiencies in risk management and compliance with anti-money laundering (AML) regulations.

He added that the 30-day advance notice requirement for new crypto banking relationships, which resulted from the case, was a veiled attempt to increase control over the banking industry, particularly in its relationship with the crypto sector.

Winklevoss added that even though Customers Bank can get the Fed's approval to bank crypto companies, it is still being determined whether the central bank will disclose the numbers to the public.

According to him, if Harris wins, the number of crypto companies approved could be next to zero, if not zero. 'And make no mistake, this enforcement action is the Fed playing nice with Nerf guns.

It's just the table setting. Not even the appetizer. The Fed is currently on its best behavior because the election is around the corner. If Harris wins in November, the gloves will come off,' he stated.

Democrats' New Campaign

With Biden's torch passed to Harris, her campaign team is ramping up efforts to counteract Donald Trump's growing appeal among crypto supporters. Trump has presented himself as a 'pro-crypto' nominee, repeatedly voicing support for Bitcoin and the crypto industry.

Earlier this week, the Democrats reportedly set up a new initiative called 'Crypto for Harris' to secure the support of crypto voters and bolster Harris's campaign.

Several reports in the last few weeks also indicated that Harris's team contacted crypto firms to 'reset' their relationship with the industry.

Hoskinson's Support for Kennedy

In a separate statement, Hoskinson voiced his support for Robert F. Kennedy Jr., the U.S. presidential candidate who will join him in a firechat at Rare Evo's blockchain event next Saturday.

'Kennedy is one of the brightest and highest integrity candidates to run for the presidency of my generation,' he said. Kennedy is a vocal Bitcoin supporter with a strong belief in its role in promoting financial freedom and transactional liberty. Kennedy once said he owned $250,000 in Bitcoin.

Apart from his investment, Kennedy also proposed a plan for the U.S. to acquire enough Bitcoin to match the value of the nation's gold reserves, amounting to around 9.4 million BTC. He believes this positions the U.S. as the most significant Bitcoin holder worldwide.