Crypto Industry Rallies: $100K Fundraiser for Kamala Harris to Influence Future Policy

Crypto executives are organizing a $100,000 fundraiser for Kamala Harris, aiming to encourage a more favorable stance on digital assets if she wins the presidency. The event will take place on September 13 in Washington, D.C.

Top executives and advocates within the cryptocurrency industry are planning a $100,000 fundraiser for U.S. Vice President Kamala Harris, set to occur on September 13 in Washington, D.C. This fundraiser is seen as a strategic move to potentially influence regulatory leniency toward the crypto sector should Harris secure the presidency in the upcoming election. Ticket prices for the event range from $500 to $5,000.

Kamala Harris: Aiming for a Shift in Digital Asset Policy

The fundraiser, hosted by the Blockchain Foundation and other key crypto advocacy groups, underscores a serious effort to sway Harris’s perspective on digital assets. The organizers hope the event will serve as a platform for discussions on how a Harris administration could support the growing crypto industry.

Cleve Mesidor, executive director of the Blockchain Foundation, highlighted the importance of this event for the crypto community, stating, “This could present an avenue for discussing ways to improve access to capital in the industry for underrepresented communities.”

The event is being organized amidst increasing regulatory scrutiny from the Securities and Exchange Commission (SEC) under the Biden administration. The SEC has been particularly tough on large crypto firms, including Coinbase and Ripple, which have both faced legal challenges over alleged securities violations. These companies have collectively contributed millions to super political action committees (PACs) in an effort to influence the election, with about $120 million being funneled into PACs this year alone. Notably, one such PAC, Fairshake, has launched a vigorous campaign against Harris and the Democratic Party.

Harris’s Relationship with the Crypto Community

This year, Harris’s team has made efforts to reach out to leaders in the crypto world, hosting meetings with top executives to discuss the current digital asset landscape. This marks the campaign’s second such outreach since July. While Brian Nelson, a senior adviser to the campaign, indicated that Harris is open to policies that support technological innovation, no concrete commitments regarding crypto have been made.

This outreach signals a potential shift in Harris’s stance towards the crypto industry, especially as the current regulatory environment has often been perceived as alienating. Harris faces a political landscape where her rival, Donald Trump, is notably more vocal in his support of cryptocurrency.

The Political Landscape

While Kamala Harris has remained relatively quiet on the topic of cryptocurrency compared to her rival Donald Trump, she currently leads in national polls with a 3.2% margin as of September 1, following an endorsement from President Joe Biden. However, the crypto community’s support for Harris is not without its challenges. Many within the industry remain skeptical about how far she would go in reforming existing regulations, particularly given the mixed signals from the Democratic Party on crypto policy.

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