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Ripple CTO David Schwartz expresses cautious optimism about U.S. Vice President Kamala Harris’ campaign promises to establish rules for crypto protection.
As part of efforts to gain the support of black Americans, Harris, who is vying to become the 47th president of the United States, announced her support for the black community. She disclosed that her administration will protect crypto by establishing rules for the industry.
According to her campaign, 20% of black Americans have had dealings with cryptocurrencies. As a result, there is a need to protect the industry.
XRP Enthusiasts React as Ripple CTO Refers to Harris Campaign Promise as Positive News
Harris’ crypto policy statements stirred reactions from crypto enthusiasts, including Ripple CTO David Schwartz. Interestingly, Schwartz expressed cautious optimism regarding Harris’ statement on protecting crypto.
“I guess this is good news,” Schwartz remarked.
I guess this is good news. https://t.co/xXEN3MsyEI
— David "JoelKatz" Schwartz (@JoelKatz) October 14, 2024
Expectedly, his reaction did not go well with XRP enthusiasts, who are furious with the current administration for appointing Gary Gensler as SEC Chairman.
Gensler has spearheaded the SEC’s enforcement actions against several crypto entities, including Ripple. Earlier this month, the SEC filed a notice to appeal the Ripple decision, potentially extending the lawsuit’s resolution to 2026.
Given this administration’s hostile treatment of crypto, many XRP community members believe Harris is only making empty promises in an attempt to woo crypto voters. They argue that Harris will not implement favorable crypto policies if she becomes U.S. president.
Better Than Nothing
Consequently, an X user questioned Schwartz about whether he believed Harris’ promise regarding crypto policy. In response, the Ripple CTO emphasized that Harris’ statement on crypto policy is “better than nothing.”
He stated that the first step has to be followed by more specific steps. This suggests that Schwartz expects the U.S. vice president to outline her policies for the industry.
Harris Attracts Crypto Support Despite Her Unclear Policies
Unlike Donald Trump, Harris has been economical with her plans for the crypto sector. The U.S. vice president has not disclosed how she intends to support the industry if she wins the presidential election slated for next month.
Last month, Harris’ campaign team released an 82-page document detailing her economic plan for the United States. Out of the 82-page document, she only mentioned digital assets once, suggesting that the asset class is not an integral part of her economic plan.
Nonetheless, she has attracted the support of top crypto stakeholders, including Uphold co-founder J.P. Theriot and Ripple Chairman Chris Larsen.
Interestingly, Larsen backed his support by donating $1 million worth of XRP. As reported earlier, Larsen donated the funds to a super PAC supporting Harris’ presidential campaign.