US Vice President and Democratic presidential candidate Kamala Harris has announced Minnesota Governor Tim Walz as her running mate for the November election. With the selection of Walz, Vice President Harris and her campaign have not made any clear sign of support for the industry.
However, a group of “cryptocurrency advocates” announced that they had joined forces to support the Democratic candidate and “push” for a friendly stance towards the sector.
Crypto “movement” will support Harris campaign
After the advertisement Following the appointment of Tim Walz as the US vice president’s running mate, a group of “industry leaders, policy experts, and everyday cryptocurrency enthusiasts” announced the creation of a Harris advocacy group.
The group “Crypto Advocates For Harris” has joined forces to endorse the Democratic candidate’s presidential campaign, saying she will push for “a nuanced policy stance that positions the United States as a leader in digital assets.”
Advocacy group annouces movement to support Kamala Harris. Source: Crypto4Harris on X
According to Fox Business reporter Eleanor Terrett, the group apparently… created by a “set of Democrats in the crypto space who don’t want to see Donald Trump get away with this.”
It is worth noting that Republican candidate Donald Trump has made his pro-industry stance a central plank of his presidential campaign, promising to become the first “crypto president” in the US.
As a result, the former US president received massive support from the industry. His pro-innovation and pro-industry stance has earned him donations from key industry figures such as the Winklevoss twins, CLO of Ripple and founder of Kraken.
Meanwhile, the Biden administration has been heavily criticized for its excessive regulations and hostile stance toward the sector, despite its recent efforts to appear more welcoming.
Democratic candidate advocacy group faces backlash
The newly formed advocacy group will hold a virtual meeting next Wednesday, August 14, to discuss their plans for supporting Harris’ campaign and ways community members can get involved. According to the announcement, “elected officials, political leaders, and industry heavyweights” will participate in the virtual meeting.
At the time of writing, the group has only confirmed billionaire Mark Cuban as a speaker at the meeting. However, Terret revealed Some of the alleged contestants who will be introduced next week.
According to the list, pro-cryptocurrency Democratic representatives Ritchie Torres, Wiley Nickel, Don Davis and Yadira Caraveo will join Cuban. In addition, American businessman Anthony Scaramucci will also be present at the meeting.
The news received mixed feedback from the crypto community, with many members asking about the “movement” and its purpose. One X user disputed whether the group was an “outside-in or inside-out initiative,” asking whether the support group consisted of “outsiders trying to influence the campaign platform” or “campaign affiliates actively creating the platform and building the coalition.”
Many users expressed skepticism about “last-minute efforts” by Democratic politicians to show support for the industry, with some expressing criticism of Harris’ unclear “change of heart” on cryptocurrencies.
As Terrett later reported, the main organizers are a “mix of industry participants and policy experts,” including Sheila Warren, executive director of the Crypto Council for Innovation.
In addition to Warren, Amanda Wick, former US attorney and founder of the Association for Women in Cryptocurrencies (AWIC), Jonathan Padilla and four others are said to be organizing the initiative.
Ultimately, a part of the community seems… consider that ongoing efforts will not be enough to win over crypto voters if figures like Senator Elizabeth Warren and the chairman of the Securities and Exchange Commission (SEC) continue to have the power to threaten the industry.
Bitcoin (BTC) is trading at $57,136 in the three-day chart. Source: BTCUSDT on TradingView
Featured image from Unsplash.com, chart from TradingView.com
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