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- Schumer advocated for bipartisan pro-crypto laws amid Harris’ marketing campaign.
- Harris gained traction over Trump in a crypto-focused Polymarket prediction.
In a hanging distinction to the latest issues voiced by Galaxy Digital’s Head of Analysis, Alex Thorn, concerning Vice President Kamala Harris’ tough stance on cryptocurrency, Democratic Senator Chuck Schumer has emerged as a stunning advocate for the business.
Schumer backs Harris
Talking on the Crypto4Harris Town Hall, a grassroots initiative selling a crypto-friendly agenda inside the Harris marketing campaign, Schumer, the bulk chief of the US Senate, emphasised the urgency of embracing cryptocurrency innovation within the U.S.
He stated,
“We can’t afford to proceed to take a seat on the sidelines as a result of then we threat crypto going abroad to lowest widespread denominator nations the place there might be no regulation in any respect.”
The rise in crypto adoption
As anticipated, recognizing the numerous progress and impression of cryptocurrency over the previous decade, Schumer hinted {that a} Harris administration may not be totally anti-crypto.
He additionally expressed his dedication to pushing for pro-crypto laws within the U.S., aiming to realize this by the top of the yr if Harris turns into president.
“I need to convey members on each side of the aisle right here within the Senate collectively, create momentum so we are able to move wise laws that helps the US preserve its standing as essentially the most revolutionary nation on this planet.”
Crypto dealt with within the US so far
That brings us again to the Biden administration’s dealing with of cryptocurrency, which had turned it right into a partisan subject, significantly in the course of the passage of the numerous SAB 121 bill.
Nonetheless, right here it’s necessary to notice that regardless of the Crypto4Harris occasion, Vice President Harris has but to totally articulate her stance on pro-crypto insurance policies.
In distinction, former President Donald Trump has actively embraced cryptocurrency all through his marketing campaign, from Bitcoin-themed sneakers to NFT dinners and appearances at main crypto occasions just like the Bitcoin Conference.
Nonetheless, Harris has managed to realize vital traction with only one occasion.
Harris tops Polymarket
The Crypto4Harris initiative propelled her to the top of the Polymarket prediction market, the place she initially tied with Trump at 49% odds of profitable.
Following this occasion, Harris started to outpace Trump, and up to date updates present her main with a 54% probability, whereas Trump’s assist has dropped from 72% to 45%.
Supply: Polymarket
That being stated, billionaire investor Mark Cuban additionally took the chance to criticize Trump and the Republican Social gathering in the course of the Crypto4Harris occasion, when he said,
“Republicans couldn’t care much less. They only need to see the Bitcoin maxis get richer.”
What’s extra to it?
Nonetheless, based mostly on Schumer’s phrases, it appears clear that,
“Congress has a duty to supply common sense and sound laws for crypto.”
And because it’s apparent, this doesn’t suggest that Schumer was in favor of Trump. In truth, he made his assist for Harris very clear when he said,
“We’re right here at this time as a result of all of us assist Vice President Kamala Harris to be our subsequent president and all of us consider in the way forward for crypto.”
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