Senator Chuck Schumer Promises Pro-Crypto Legislation if Harris Wins Presidency

At the Crypto4Harris event, Senate Majority Leader Chuck Schumer pledged to push for bipartisan pro-crypto legislation by the end of the year if Kamala Harris becomes president, aiming to foster innovation and safeguard U.S. leadership in the crypto industry.

Democratic Senator Chuck Schumer, the Majority Leader of the United States Senate, has committed to advancing pro-crypto legislation by the end of the year if Kamala Harris is elected as the next U.S. president. Speaking at the Crypto4Harris Town Hall meeting—a grassroots crypto advocacy event—Schumer emphasized the need for the U.S. to stay competitive in the global crypto market.

“We cannot afford to continue to sit on the sidelines because then we risk crypto going overseas to lowest common denominator countries where there will be no regulation at all,” Schumer stated, highlighting the importance of U.S. leadership in the crypto space.

The Crypto4Harris event represents a push from the grassroots level for a more crypto-friendly stance in Harris’s presidential campaign. Schumer’s comments suggest that a Harris administration may not necessarily inherit the current administration’s approach, which has been perceived as hostile to the crypto industry.

Schumer expressed his intention to rally bipartisan support in the Senate, saying, “I want to bring members on both sides of the aisle together to pass sensible legislation that helps the United States maintain its status as the most innovative country in the world.”

He also stressed the importance of providing regulatory guardrails to protect crypto users, safeguard national security interests, and prevent misuse by bad actors.

Crypto4Harris and the Political Landscape

The Crypto4Harris event comes at a time when the political landscape is increasingly shaped by digital assets. While Vice President Harris has yet to clearly define her position on crypto, this event highlights a growing movement within the Democratic Party to embrace crypto innovation.

Republican candidate Donald Trump has also been vocal about his support for crypto, promising to end what he calls “Joe Biden’s war on crypto” if elected. Trump has pledged to make the U.S. the “crypto capital of the planet” by removing SEC Chair Gary Gensler and creating a national Bitcoin reserve.

Billionaire investor Mark Cuban, speaking at the Crypto4Harris event, criticized Trump and the Republican Party, suggesting they are more interested in enriching the elite than supporting the broader crypto community.

Democratic Support for Crypto

Several other Democratic politicians have also expressed their support for the crypto industry. Congressman Wiley Nickel took a swipe at Trump, pointing out his past hostility towards crypto, while Senator Debbie Stabenow, chair of the Senate Agriculture Committee, reiterated her commitment to regulating crypto assets as commodities rather than securities.

The event featured statements of support from Colorado Governor Jared Polis, Senator Kirsten Gillibrand, and Representatives Elissa Slotkin and Adam Schiff, who all emphasized the potential for policy improvements under a Democratic administration.

Anthony Scaramucci, founder of SkyBridge Capital, called for a less tribal and more bipartisan approach to crypto policy, advocating for collaboration across the political spectrum.

Tag:

Crypto Legislation, Chuck Schumer, Harris Campaign, Crypto4Harris, U.S. Senate

AI Prompt for Illustration:

Create an illustration featuring Senator Chuck Schumer speaking at a podium with a backdrop that includes elements of cryptocurrency, such as Bitcoin and blockchain symbols. The scene should reflect a political town hall setting, with an American flag and the Harris campaign logo subtly integrated into the background, emphasizing the theme of pro-crypto legislation.