- America goes to the polls today to elect its 47th president
- For the first time, both candidates have talked up the potential of the crypto sector
- What are the key crypto policies each candidate is taking?
America will vote today on its 47th president, with polls showing that the decision is too tight to call. For the first time, both candidates, Donald Trump and Kamala Harris, are pro-crypto, although each has different perspectives on what areas should take precedence. In this piece, we outline the key policies of each player with regard to the crypto sector.
Donald Trump
Establishing a National Bitcoin Reserve: Trump has pledged to create a strategic national Bitcoin stockpile by retaining all bitcoins currently held or acquired by the U.S. government. This initiative aims to strengthen the nation’s financial position and support the cryptocurrency sector.
Supporting Bitcoin Mining: Trump emphasizes the importance of Bitcoin mining as a component of domestic manufacturing. Trump has engaged with mining industry leaders and expressed intentions to foster a favorable environment for mining operations within the United States.
Reforming Regulatory Oversight: Trump has expressed intentions to replace current regulatory leadership, specifically targeting SEC Chair Gary Gensler, to encourage innovation in the digital asset space. He also plans to establish a Bitcoin and crypto advisory council to develop clear regulatory guidelines.
Opposing Central Bank Digital Currencies (CBDCs): Trump has voiced opposition to the development of a U.S. central bank digital currency, advocating instead for the growth of decentralized digital assets like Bitcoin.
Kamala Harris
Encouraging Technological Innovation: Harris has expressed support for emerging technologies, including digital assets, highlighting their potential to enhance America’s competitiveness. She stated, “We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Establishing Clear Regulatory Frameworks: Harris advocates for creating a transparent and consistent regulatory environment for digital assets, aiming to provide clear guidelines for businesses and protect consumers. Harris remarked, “We will create a safe business environment with consistent and transparent rules of the road.”
Balancing Innovation with Consumer Protection: Harris emphasizes the importance of safeguarding consumers and investors in the rapidly evolving digital asset space, aiming to prevent fraud and ensure market integrity.
Don’t Vote on Crypto Alone
There are many reasons why voters should pick one candidate over another, but their stance on crypto alone should not be the deciding factor; for example, one might be a danger to society and a threat to national security, while the other may be a rational human being with a functioning brain.
That’s not fos us to decide, but all of us will have to live with the consequences.
