Senator Kirsten Gillibrand Speaks At Crypto For Harris Event

Senator Kirsten Gillibrand (D-NY) hinted that presumptive Democratic nominee Kamala Harris would facilitate a 'balanced approach' to digital asset regulation should she defeat Republican nominee Donald Trump this November. The lawmaker revealed this at a Crypto For Harris town hall Wednesday night.

"We've been working hard to develop a comprehensive cryptocurrency framework that enables entrepreneurs and businesses to innovate responsibly while also protecting consumers and cracking down on bad actors," Gillibrand told attendees of the crypto event.

**'Significant progress has been made, and we've heard members of this administration encourage our work. Like you, they understand that regulatory clarity is good for everyone.

I'm sure a future Harris administration would understand and facilitate that balanced approach,'** she added.

Gillibrand was one of many political figures who spoke at the Democratic Crypto Collective's first town hall this week.

The event featured a keynote address by fellow New York Senator Chuck Schumer (D-NY), who promised key crypto legislation this year. 'Crypto is here to stay, no matter what, so Congress must get it right,' Schumer said.

Is Kamala Harris Open To Crypto?

The House of Representatives recently passed the Financial Innovation and Technology for the 21st Century Act (FIT21). However, a formal, wide-reaching crypto regulatory framework has yet to be established.

This raises concerns from crypto community members that the need for clarity may drive crypto companies overseas.

Meanwhile, Trump has lauded the whole blockchain sector on the campaign trail. During a speaking engagement at the Bitcoin Conference 2024 last month, the former reality television star promised attendees he would deliver on crypto-friendly regulations.

' We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,' Trump said.

While Harris has remained quiet on her stance on digital assets, critics argue that her association with current U.S. President Joe Biden's administration, which supports stringent crypto regulatory measures, may hurt her chances of winning over crypto voters.

However, billionaire Mark Cuban recently told media outlet Politico that Harris could be more 'open' to embracing the world of digital assets.

'The feedback I'm getting, but certainly not confirmed by the VP, is that she will be far more open to business (artificial intelligence), crypto, and government as a service,' Cuban said.

'Changing the policies changes the message and lets everyone know she is in charge and open for business.'