Senator Chuck Schumer Promises to Enact Crypto-friendly Laws if Harris Is Elected President
On August 15th, according to Cointelegraph, Chuck Schumer, the majority leader of the US Senate and Democratic Senator, said that if Kamala Harris is elected president, his goal is to pass bipartisan legislation supporting cryptocurrency by the end of this year. Schumer stated in a speech at the Crypto4Harris town hall meeting, "We can't sit idly by because we run the risk of cryptocurrency flowing overseas and into countries with the lowest regulatory standards."Schumer noted the growth of the cryptocurrency industry and said that the Harris administration is not necessarily opposed to cryptocurrency in principle, adding that if Harris is elected president, his goal is to pass legislation supporting cryptocurrency in the US by the end of this year. He said, "I hope to unite senators from both parties to create momentum so that we can pass reasonable legislation to help the US maintain its position as the most innovative country in the world." Schumer stated, "When it comes to artificial intelligence or encryption technology, innovation is our North Star." He pointed out that legislators need to provide guardrails to protect technology users, maintain national security, and ensure that encryption technology is not abused by bad actors. Schumer added, "Congress has a responsibility to provide sensible and reasonable regulation for cryptocurrency, and we need your support to ensure that any proposal is bipartisan." He called on voters and cryptocurrency enthusiasts to commit to supporting Harris' campaign.
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