Despite the initiatives by the White House, the core cryptocurrency community remains skeptical of Kamala Harris’s potential presidency. Charles Hoskinson, CEO of Cardano, expressed his doubts, stating that there seems to be no “crypto reset” as suggested by the Harris camp.
He warned that voting for Harris might be detrimental to the American crypto industry, claiming that conditions are worsening rather than improving.
White House Meets up with Crypto Industry Leaders
To address mounting worries within the cryptocurrency business, senior White House officials met with leaders in the field. Representative Ro Khanna is leading this project, which carries on the Biden-Harris administration’s goal of keeping lines of communication open with the cryptocurrency community.
The Democrats have also started a campaign called “Crypto for Harris” in an attempt to win over the cryptocurrency community to Vice President Kamala Harris’s cause.
Hoskinson’s comments come after a tweet from Gemini co-founder Tyler Winklevoss, who accused the Federal Reserve of deliberately targeting the cryptocurrency industry with “Operation Choke Point 2.0.” He criticised the Fed’s actions against banks that supported cryptocurrencies.
Coinbase’s Chief Legal Officer, Paul Grewal, revealed that although White House representatives acknowledged the industry’s worries in a recent conversation, they made no firm promises. This adds more to the worries.
White House spokeswoman Robyn Patterson responded to the scepticism by saying that the Biden-Harris administration will keep interacting with different stakeholders and collaborating with Congress to draft legislation that guarantees the expansion of crypto-asset innovation in a safe manner.
Trump Goes All In for Bitcoin
In an attempt to win this year’s election, former President Donald Trump is playing the Bitcoin card. He recently gave the crypto industry’s “very, very smart people” praise. Trump hinted in an interview that accepting Bitcoin would be able to assist in reducing the $35 trillion national debt of the United States.
The divergent opinions held by prominent politicians underscore the continuous discussion concerning the direction of cryptocurrency legislation in the US.
It is unclear how the Biden-Harris administration’s outreach will be received by the larger cryptocurrency community as they proceed.