Reaching Coinsensor… Vice President Kamala Harris’ campaign on Monday announced support for a “regulatory framework” for cryptocurrencies and digital assets aimed at protecting investors. The cryptocurrency push is part of Harris’ Opportunity Agenda for Black Men, which includes legalizing cannabis at the federal level and providing forgivable loans to entrepreneurs. Reference: Harris campaign says more than 20% of Black Americans own or have owned cryptocurrencies.
Joining the party: Harris hasn’t said much about crypto so far, but her proposal has caught the attention of the industry. Bitcoin and Ether both rose more than 5% on Monday.
Moon Promise: Former President Donald Trump promised industry-friendly regulation and talked about creating a Bitcoin “stockpile.” In 2021, he called Bitcoin a “scam.”
The final spurt…The crypto industry is spending a lot of money in preparation for next month’s elections. Coinbase and the Ripple co-founder each recently donated $1 million to a PAC supporting Harris, according to OpenSecret, a nonpartisan organization that tracks campaign spending. A pro-Trump super PAC has received millions of dollars from crypto industry heavyweights, including Gemini founders Cameron Winklevoss and Tyler Winklevoss. Meanwhile, anti-vote spending by the pro-cryptocurrency super PAC Fairshake, whose biggest donors are Coinbase and Ripple, exceeded $36 million. Pro-cryptocurrency super PACs Defend American Jobs and Protect Progress spent more than $90 million combined in the federal election.
