TL;DR
Ripple co-founder Chris Larsen endorsed Kamala Harris, citing her pro-innovation stance and ties to the Bay Area tech scene. US presidential candidates have recently expressed support for a crypto regulatory framework aimed at protecting vulnerable groups, but have yet to provide specific policy details.
“I’m excited about Harris’ economic message.”
With less than a week until the US presidential election (scheduled for November 5th), Republican Donald Trump and Democrat Kamala Harris will face off. Many industry insiders say the former is a better choice for pro-crypto voters, given his positive attitude toward the industry, which has been demonstrated in the past few months.
President Trump also promised to fire Securities and Exchange Commission Chairman Gary Gensler if he wins. This institution and its leaders are in an all-out war with many cryptocurrency companies such as Ripple. The company filed a lawsuit against the company in December 2020, alleging that the company and some of its executives illegally raised more than $1.3 billion in unregistered securities offerings through the sale of XRP.
The legal battle continues, with the SEC recently citing Judge Torres’ 2023 ruling that the company’s sales of XRP to retail investors on cryptocurrency exchanges do not violate securities laws. appealed against.
However, it was surprising to see Ripple co-founder Chris Larsen publicly support Trump’s opponent, Kamala Harris. He even donated $10 million worth of XRP to support her campaign. In a recent interview with CNBC, Larsen explained that he supports Harris because of her “economic message.”
“This is a pro-innovation message that will ensure that American champions dominate industries around the world. So I’m excited about that. (The Bay Area has been home to more trillion-dollar companies than any other place on Earth).
she understands that. She grew up here and knows the people who founded these companies, so she believes this will be a very different approach than the Biden administration’s failed policies regarding cryptocurrencies. ”
Larsen added that Harris’ Cabinet nominees have recently held numerous meetings with companies in the crypto sector. He said the Democratic Party has left a clear message that its view of the asset class is different from the previous administration.
Harris’ future approach to cryptocurrencies remains a mystery
The Democratic candidate was initially apathetic about the digital asset industry and did not focus on it during the campaign. Earlier this month, she finally addressed the issue, advocating for a comprehensive crypto regulatory framework to protect “black men and others” who participate in the market.
Harris highlighted that one-fifth of all Black Americans own or have owned cryptocurrencies. He also claimed that these “new technologies” have made banking and financial services more affordable to individuals.
Nevertheless, Harris’ team did not provide specific information about what the proposed regulatory framework would include.
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