The crypto industry and its regulations have become a decisive topic among US voters. As the November US Presidential elections get closer, American citizens continue to ask for clearer regulations and a more welcoming landscape in the country. Following Biden’s drop from the presidential rally, Vice President Kamala Harris became the principal nominee for the Democratic party.
The leadership change sparked speculations on whether Harris would adopt a more upfront and friendly approach toward the sector for her campaign, fueling a discussion among community members and industry figures. US senator Bill Hagerty joined the voices questioning VP Harris’ undisclosed strategy.
Is Harris Strategy ‘Burdened By What Had Been’?
On Wednesday, Republican US senator Bill Hagerty told Fox Business journalist Eleanor Terrett whether he believed Kamala Harris’ “so-called crypto reset” would aid her presidential campaign.
Fox Business journalist shares Senator Hagerty comments. Source: Eleanor Terrett on X
To the senator, it is no surprise that Vice President Harris is “making a desperate last-minute 180 degree flip to appear pro-crypto.” Hagerty considers that Former US President and Republican candidate Donald Trump’s recent success at the Nashville Bitcoin 2024 Conference has influenced the Democratic nominee’s alleged strategy change.
Related Reading: Donald Trump Debuts Bitcoin-Themed Sneaker Line Post 2024 Nashville Conference
However, the US senator doesn’t believe the “reset” will benefit Harris’ campaign. Hagerty mocked the Vice President’s famous “what can be, unburdened what has been” phrase, stating that for her, “What can be is BURNEDED by what has been.”
He highlighted that the Biden-Harris administration has displayed “three and a half years of egregiously anti-crypto and anti-innovation policies.” The US government has been greatly criticized for this regulatory ‘overreaching’ approach toward the sector in recent years but seemingly pivoted to a more strategic approach in May.
This decision seemed to be fueled by the scrutiny, which has intensified over the years, and Trump’s success among voters and industry figures throughout his presidential rally this year. The significant support has translated into crypto contributions after the former US president announced his campaign would accept donations in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Shiba Inu (SHIB), among others.
The Republican Party, ‘The Party of Crypto’?
Senator Hagerty believes that the crypto community sees through VP Harris’ “last-ditch effort”, and many community members agreed with him. Some users stated that Harris would need to take decisive actions, like firing the Securities and Exchange Commission (SEC) Chair, Gary Gensler, to demonstrate her sincerity.
Investor criticizes the Biden administration's stance. Source: Bleeves Crypto on X
Co-Founder of Gemini Cameron Winklevoss recently shared a similar opinion, warning users of the Vice President’s “big bluff” to “reset with the industry.” Winklevoss asked Harris to “not bother” unless she’s prepared to back up her promises with real actions. He emphasized, “You can’t burn bridges for 4 years and expect to rebuild them with words alone.”
Hagerty also stated that Harris’ strategy won’t change the fact that “the Republican Party is the party of crypto.” These comments received some backlash from some community members.
An X user disagreed with the senator’s remarks, saying, “Don’t. Let. ANY. Party. Co-opt. Crypto.” To the investor, crypto “is non-partisan!”, and users should force both sides “to come to heel.”
Another investor highlighted that Trump’s last term “was extremely anti-crypto” but he came around this time, emphasizing that Harris could too. Ultimately, “Crypto will remain undefeated regardless of party,” the post stated.
Bitcoin (BTC) is trading at $64,500 in the five-day chart. Source: BTCUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
