What is Vice President Biden's stance on cryptocurrencies?

Original title: Where does Biden’s VP Kamala Harris stand on crypto?

Original author: Thomas Carreras, DL News

Original translation: Ismay, BlockBeats

Editor's note: On July 22, the current US President Biden announced his withdrawal from the 2024 presidential election and supported Vice President Kamala Harris as the 2024 Democratic presidential candidate. Bitcoin prices also responded accordingly. At the same time, on Polymarket, Trump's probability of winning the 2024 US presidential election dropped to 66%, and Kamala Harris's probability of winning the 2024 US presidential election rose to 32%. Before the real election comes, nothing is set in stone. The author of this article briefly introduces Harris's position on cryptocurrency, and it can be seen that he has not shown a clear attitude towards cryptocurrency. This article was originally published on July 4, 2024.

The following is the original text:

Polymarket, an on-chain prediction market, shows that in the prediction of the Democratic candidates in 2024, the winning rate of US Vice President Kamala Harris has risen to 42%, and Biden's winning rate has dropped to 37%.

Although a White House spokesman has denied that Biden is considering withdrawing from the campaign, the probability of Biden withdrawing from the campaign has risen to 65%. At the same time, in the prediction of the winner of the presidential election, Vice President Harris's winning rate has risen to 16%, although there is a certain gap with Trump (61%), but it has surpassed Biden (12%), second only to Trump.

Vice President Harris's sudden rise has triggered a lot of speculation among crypto people. What is her position on cryptocurrency? Has she been involved in or expressed her views on the crypto field before? The following is the relevant information learned.

Harris became the first choice for the Democratic nomination after Biden performed poorly in the debate with Trump last week. The question of Harris's stance on cryptocurrencies seems more pressing.

While Biden vowed to continue his campaign, Harris did not publicly run for the 47th president of the United States. But according to Polymarket's forecast, Harris's chances of winning the presidential election rose to 16% in recent days, although there is a certain gap with Trump (61%), but it has surpassed Biden (12%) and is second only to Trump.

Meanwhile, a Harris-themed memecoin called Kamala Horris has emerged, up about 600% in the past week and more than 1,500% in the past 30 days, according to Coingecko data.

Given that the crypto industry has become a hot topic in this year's election and Harris's sudden rise, her stance on cryptocurrencies seems unusually important.

The Biden administration has been hostile to the crypto industry, but Harris's stance is more elusive.

Harris has never taken an official position on cryptocurrencies or commented on the industry.

Financial disclosures show that neither Harris nor her husband, Douglas Emhoff, has ever been involved in the crypto field, preferring to invest in U.S. Treasuries and emerging markets.

It is worth mentioning that during the 2020 election, Harris did hire Ryan Montoya, the former chief technology officer of the Sacramento Kings basketball team (NBA basketball team), as her schedule director.

According to Montoya's LinkedIn profile, under Montoya's leadership, the Sacramento Kings became the first team in the world to accept Bitcoin. The team has also mined Ethereum and launched an NFT series.

Montoya now works as an assistant to the president in the White House, but he is still responsible for his original schedule responsibilities. Therefore, Montoya is unlikely to have an impact on policy.

But Harris, who is from San Francisco, has close ties to the technology industry, according to the New York Times in 2020. When she was nominated as vice president, she was seen as "good news" for Silicon Valley.

With the cryptocurrency lobbying heating up and Wall Street banks joining in on behalf of the industry, Harris may have "reasons" to stand up in support of Bitcoin before the presidential campaign. Of course, Harris may also take the same attitude as Biden and adopt a policy of suppressing cryptocurrencies.

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