Vice President Kamala Harris is reportedly working with former Joe Biden economic advisors Brian Deese and Bharat Ramamurti.
Alex Thorn, head of research at Galaxy, commented on this in an August 13 post on X, stating, "Her advisor choice suggests she will keep Biden's hostile attitude to crypto."
Harris is expected to outline her economic policy plans in mid-August, which will clarify her stance on cryptocurrency regulation.
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Thorn noted that Deese and Ramamurti played important roles in shaping the Biden administration's anti-crypto strategies, including "Operation Chokepoint 2.0."
This term, coined by crypto venture capitalist Nic Carter, refers to the collapse of three crypto-friendly banks—Silicon Valley Bank, Silvergate Bank, and Signature Bank—in March 2023. These collapses were seen as part of government efforts to marginalize the crypto industry by cutting off its access to traditional banking services.
Earlier this month, the US Federal Reserve issued a directive to another crypto-friendly bank, Customers Bank, requiring it to give 30 days' notice before forming new relationships with crypto firms. Gemini co-founder Tyler Winklevoss claimed this action confirms that "Operation Chokepoint 2.0" is ongoing, making Harris' crypto 'reset' a scam.
On the other hand, when discussing Harris' crypto policies on CNBC, former presidential candidate Vivek Ramaswamy suggested she might adjust her rhetoric to attract crypto-friendly voters, a strategy influenced by former President Donald Trump's focus on the issue.
However, Ramaswamy mentioned that her stance should be judged based on the specifics of her proposed policies and said:
I challenge Kamala Harris to not just cite the pieties and the words— go into detail, say what you actually believe about self-custody of assets. Say what you actually believe about whether you think Gary Gensler should continue as the leader of the <Securities and Exchange Commission>.
He concluded that detailed, thoughtful crypto policies from Harris could benefit the US, even if there are disagreements over specific policies.
Overall, Harris' position on crypto will become clearer soon; however, her association with anti-crypto figures suggests a potential continuation of the Biden administration's stringent regulations.
