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According to sources, Vice President Kamala Harris's election campaign advisors have reportedly contacted key names in the cryptocurrency industry. These contacts are part of an effort to develop relationships that could inform the future regulatory framework.
Recently, crypto exchange Coinbase, stablecoin company Circle and blockchain payments firm Ripple Labs have been contacted for this purpose. The message Harris wants to convey is that Democrats are “pro-business and pro-responsible business.”
Harris' rise to the top among Democratic presidential candidates is seen as an opportunity to rebuild relations with the technology sector. This comes after the Biden administration's regulatory stance sparked a backlash in what has traditionally been a more liberal-leaning industry.
A Ripple spokesperson pointed to recent statements made by CEO Brad Garlinghouse on social media. He urged Harris to stay away from “people talking nonsense like this,” a reference to Rep. Brad Sherman, a harsh critic of crypto. Garlinghouse also warned against drawing conclusions about candidates based solely on their party affiliation.
*This is not investment advice.