- Galaxy Digital exec claimed that Harris could extend crypto crackdown.
- However, a Bloomberg analyst believed she could be neutral to positive for the market.
As a seasoned crypto investor with over a decade of experience navigating the volatile world of digital assets, I find myself cautiously optimistic about the potential impact of Kamala Harris on the crypto sector. While Galaxy Digital’s Alex Thorn raises valid concerns about Harris’s anti-crypto advisors and their alleged role in Choke Point 2.0, it’s essential to remember that the crypto market is notoriously unpredictable and subject to rapid change.
Although Kamala Harris’s proposal for a cryptocurrency reset has been put forth, there is growing skepticism among experts within the field regarding her potential influence on the sector, particularly if she were to be elected in the U.S. elections.
Galaxy Digital’s Head of Research, Alex Thorn, is the latest to raise an alarm about Harris. Thorn believed that Harris would extend crypto crackdown after hiring anti-crypto as her economic advisors.
“The selection of her advisors indicates that she might maintain a critical stance towards cryptocurrency, similar to President Biden’s. Currently, Kamala Harris is collaborating with Brian Deese and Bharat Ramamurti, two prominent figures known for their skepticism towards cryptocurrencies within the Biden administration.”
Mixed views on Harris anti-crypto hires
Thorn added that the two officials were also behind Choke Point 2.0.
“Deese and Ramamurti play significant roles as masterminds behind the Biden administration’s efforts against cryptocurrencies, one aspect of which is known as ‘Chokepoint 2.0.'”
For perspective, Choke Point 2.0 refers to the perceived U.S. regulatory restriction on crypto firms’ access to the banking system. Crypto-friendly Customers Bank was the latest victim of Choke Point 2.0.
The officials also allegedly influenced and killed the stablecoin legislation, according to Thorn.
On his part, Ryan Adams of Bankless echoed Thorn’s sentiment and called Harris’s move as,
“Extremely disappointing but also…a clear message.”
Bloomberg ETF analyst James Seyffart expressed a touch of sarcasm regarding the supposed Harris cryptocurrency reboot, yet harbored some doubts. In simpler terms, he commented on the matter in a slightly sarcastic manner, but also voiced concerns about it.
Under a Harris administration, we can expect a generally favorable stance towards space exploration, leaning slightly more positive than under the current Biden administration.
On the other hand, market analyst Adam Cochran supported Harris and argued that her recent selections don’t automatically imply dishonesty in her future policy-making.
He added that her advisors have been engaging with the industry.
“Meanwhile her advisors are having round tables with crypto, reaching out to lobby groups, and making real progress. If you want policy change, engage.”
As a passionate crypto investor, I’ve been closely following the crypto-related roundtables spearheaded by Representative Ro Khanna, who is a Democract. He has made it clear that he intends to advocate for a unified, bipartisan strategy towards cryptocurrencies.
However, unlike Donald Trump, Harris hasn’t clarified her crypto stand.
As a crypto investor, I’ve been keeping an eye on the political landscape, and it seems that the odds of Kamala Harris winning the U.S. elections have increased on the prediction site Polymarket. Currently, her chances are estimated at 53%, while Trump’s stand at 46%. It appears the tides might be shifting in a different direction.
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2024-08-14 15:04