Crypto Insiders Courting Vice President Harris Chase Whispers of Her Openness

As U.S. cryptocurrency experts remain on the fence about the Biden administration, a more urgent mission is developing to learn Vice President Kamala Harris’ views on digital assets. But her double life as both vice president and presidential candidate may prevent her from taking a strong stance.

Industry insiders have been holding meetings with officials with ties to the White House, and while one of the meetings last week featured a senior adviser from Harris’ own office, the sessions were largely one-sided and had nothing to do with her campaign. Meanwhile, some crypto executives and investors are pursuing several new efforts to support Harris as a possible Democratic presidential candidate, even if there’s no direct indication of how she’ll approach the industry.

Read More: Bitcoin and Crypto Not Mentioned in Trump-Musk X Space

This week, the fledgling “crypto4harris” effort kicks off Wednesday with an online forum where prominent industry figures are expected to gather under the vice president’s banner. Such initiatives do not yet have formal ties to the Harris campaign.

The goal here is to get Harris to publicly state her “open mind and willingness to start fresh” with the industry, said Amanda Wick, a former federal prosecutor who now consults on cryptocurrency and helped organize industry support for Harris.

“It’s a really important industry; it’s a really important voting bloc; it’s a really important fundraising source,” Veronica McGregor, chief legal officer at crypto wallet provider Exodus, who also helps organize Harris events, said in an interview. “And most of the crypto people I know are looking to put their money where their mouth is and support candidates who aren’t trying to kill the industry.”

McGregor said multiple people working on the crypto4harris project have been in contact with the vice president’s campaign, though not on an official level. Wick declined to go into detail about the Harris campaign’s interactions with crypto supporters, but said, “We’ve seen indications from the campaign team that they’re open to a conversation.”

With the November election just months away, crypto players are continuing to knock on all political doors to pursue a clear set of rules for using and trading cryptocurrency, a key U.S. goal. That included a meeting in San Francisco two weeks ago between crypto business leaders and Deputy Treasury Secretary Wally Adeyemo, according to a person familiar with the discussions. The person said Adeyemo has been in contact with crypto leaders to discuss policy initiatives he’s working on.

The story continues

Vice presidential limitations

While those in the digital asset industry are disappointed that Harris has yet to put forth her own pro-crypto message, some also point out the limitations of a vice president whose job description requires supporting the current administration.

“You can’t expect a sitting vice president to say, ‘Oh, my boss was completely wrong about this. Let me tell you what we’re going to do,'” McGregor said. “I don’t think you can expect that. That’s asking too much.”

Former President Donald Trump faces no such restrictions. His own administration has been a supporter of digital assets in recent weeks, even if it did not embrace the emerging technology at its earliest opportunity. As a result, some key industry leaders have thrown their support and money behind a second Trump administration in the hope that it will reverse the Biden administration’s enforcement pursuits and compliance conflicts.

“His flattery now finds admiration in people who have been in the desert and are happy to make their way to an oasis, even if it’s a mirage,” Wick said in an interview.

Harris said over the weekend that she would release her economic policy views in the coming days, but there is no indication yet that she will mention digital tokens. Her campaign did not immediately respond to a request for comment on crypto4harris.

While he is in no position to match Trump’s enthusiasm, his campaign’s sudden revelation has created a stir among crypto Democrats and those who are not keen on supporting Trump.

“There’s a lot of energy in this campaign, more than I think we’ve ever seen before. [President Barack] “Obama,” McGregor said, “a lot of people chime in and say, ‘What can I do?’ I see that a lot.”

Harris may have a chance to change the minds of some Democratic token enthusiasts upset with the Biden administration’s actions, according to the results of a survey conducted by crypto investment firm Paradigm, released by the company on Monday.

White House meetings

Even as candidates jockey for the future White House, the industry is still trying to come to terms with President Joe Biden’s administration. Digital asset leaders have been holding highly publicized meetings with current federal officials, including one last week where Coinbase (COIN) Chief Legal Officer Paul Grewal advocated for federal legislation.

“Any conversations that move beyond this administration’s poor record on crypto are positive,” Grewal said in a statement. “It’s not too late, but time is running out. The White House should publicly support and enact the Senate’s efforts to pass a bipartisan market structure bill, as the House has done.”

So far, the administration has only vaguely supported doing something about cryptocurrency. Two recent roundtables with White House officials that were publicized and Adeyemo’s meeting with several crypto firms have yet to produce concrete results.

Harris supporters say one of their main goals is to prevent cryptocurrencies from becoming a partisan space in the U.S., as evidenced by the industry’s increasing tilt toward Trump and Republicans.

The Republican Party has officially adopted a pro-crypto stance on its official platform. Democrats, who will be attending their national convention in Chicago next week, have already released a draft of their own platform that does not embrace crypto, despite efforts by some lawmakers to include it.

Read More: Democrat Crypto Supporters Call for Crypto-Friendly Party Platform

“As other countries gain momentum, as we have a debt crisis, as the dollar gets weaker, the consequences of getting this wrong should scare everyone regardless of party, and there are Democrats who see that and are trying to speak out,” Wick said.