The Topic of Crypto Assets Heats Up in the U.S. Elections: Harris's Policy Inclination Sparks Follow

Recently, the Democratic Party in the United States held an online town hall meeting aimed at garnering support from Crypto Assets holders. Although Vice President Kamala Harris was scheduled to attend, her eventual absence raised considerable questions.

At the meeting, Democratic senators pledged to draft laws supporting Crypto Assets if Harris is elected president. However, Harris's absence sparked dissatisfaction among the audience and raised doubts about her position.

Nevertheless, the likelihood of Harris becoming the next President of the United States is still on the rise. According to some prediction market data, prior to the event being scheduled, Harris's probability of winning was approximately 40%; after the announcement of the event, her probability of winning was on par with Trump for the first time; subsequently, after the event was held, Harris's probability further rose to 53%, while Trump stood at 44%.

At the same time, the price of the Harris concept coin is also rising. As of now, the price of the coin has reached $0.0131, up nearly 47% from the low a month ago. In contrast, the Trump concept coin has fallen more than 60% from its high a month ago.

Before Biden clearly indicated his withdrawal, Harris as vice president did not attract much attention. Trump initially did not take this competitor seriously and publicly emphasized that Harris is very opposed to Crypto Assets. However, now the situation seems to have changed, with support for Harris growing in both the traditional market and the Crypto market.

Harris's Attitude Towards Crypto Assets

Unlike Trump's hostile attitude towards Crypto Assets during his presidency, Harris seems to have maintained a indifferent and conservative stance towards this emerging field. She has never given enough attention to Crypto Assets, and has even been seen by outsiders as "not very interested".

First, as Vice President, Harris primarily focuses on more traditional macro areas, such as economic recovery, COVID-19 response, environmental issues, and racial equality. From her financial disclosures, it appears that Harris and her husband prefer to invest in stable, traditional assets, such as U.S. Treasury bonds and emerging market stocks. This investment portfolio demonstrates Harris's particular caution when selecting emerging technologies and financial instruments, and she seems more willing to maintain a certain distance from high-risk Crypto Assets.

Secondly, although Harris has served as a senator and attorney general in California and has had contact with the tech giants in Silicon Valley, this has not translated into her public support or participation in Crypto Assets. Even as Crypto Assets gain more attention in Silicon Valley and the broader tech industry, Harris did not express clear views on Crypto Assets policy during her time in public office, nor did she actively participate in relevant legislative or regulatory discussions in Congress or other public forums. This silence further indicates her cautious attitude in this field.

Moreover, even during her tenure as Vice President, Harris's stance on Crypto Assets issues has not shown any significant change. She has neither participated in nor promoted any important policies related to Crypto Assets, nor has she made any official statements supporting or opposing Crypto Assets. In stark contrast to her active involvement in areas such as the environment, education, and healthcare, Harris's "absence" in the Crypto Assets field is particularly notable.

Overall, before the "official" campaign for the next President of the United States, Harris's attitude towards Crypto Assets can be described as quite "indifferent," which may stem from her caution regarding the risks and uncertainties in this field. Although there is some connection to the technology industry, her investment and policy choices clearly lean more towards safety and stability. Compared to the businessman-turned-President Trump, who is willing to take risks, Harris undoubtedly appears more conservative.

Changes in the Harris Team

To win the election, Harris seems to be making some changes. Her campaign team recently recruited two advisors with a background in Crypto Assets: David Plouffe and Gene Sperling. Plouffe was a campaign manager and senior advisor for former U.S. President Obama, and after leaving the White House in 2013, he became actively involved in the Crypto Assets field, serving as a global strategic advisor for a trading platform's global advisory board and a payment company. The other member joining Harris's team, Sperling, has served on the board of a Crypto Assets company and held significant economic advisory roles in the Clinton and Obama administrations.

On the surface, these actions seem to indicate that Harris is paying attention to Crypto Assets, as she is working to establish connections with the crypto industry. The addition of two advisors may also provide her with some support and assistance in winning the election and formulating Crypto Assets policies. However, do these "superficial efforts" truly reflect a change in her attitude? The answer appears to be negative.

Previously, there were rumors that Harris would attend the Bitcoin conference held at the end of July and give a speech. As we all know, Trump announced loudly that he would participate in the conference even after being shot, and he indeed expressed at the meeting that he would formulate a series of Crypto Assets-friendly policies. The Crypto Assets market was looking forward to how the two candidates would debate at the conference. However, the outcome was disappointing, as Harris ultimately did not attend.

Of course, considering that Harris has just been nominated as a presidential candidate and is busy with affairs, her absence from the conference may be understandable. However, her subsequent absence from a virtual roundtable organized by California Democratic lawmakers sparked widespread questioning from the Crypto Assets industry. During the meeting, several well-known representatives from the Crypto Assets industry engaged in dialogue with Democratic officials. As a representative of the Democratic Party, Harris should have attended the meeting. Therefore, a co-founder of a certain crypto exchange publicly questioned the reason for Harris's absence from the meeting on a social platform to express his dissatisfaction.

Perhaps influenced by these factors, the dialogue between encryption representatives and Democratic representatives at the roundtable meeting was not smooth. Industry executives failed to reach a consensus with the Democrats and instead leveled harsh criticism at government officials. Major donors and others expressed strong dissatisfaction with the government's hollow promises. This tension highlights the differences in policy positions between the encryption industry and the Democratic government, and further deepens the encryption industry's doubts about Harris: does she really value Crypto Assets?

Harris's Potential Crypto Policy

Today, Harris has once again missed an important event regarding Crypto Assets, which has disappointed everyone. However, her approval ratings continue to rise steadily. If Harris wins the election, what impact will it have on the Crypto Assets market?

The Biden administration has taken stricter regulatory and tax transparency measures in the Crypto Assets market. Although these measures have somewhat reduced market uncertainty, they have also raised concerns and opposition within the crypto community. As a Democratic candidate, Harris may find it difficult to break this established framework in terms of policy.

A chief investment officer of an investment firm pointed out that although Trump's election may be more favorable for the Crypto Assets market, Harris's victory will not be as bad as some people are worried about. He also mentioned that heavyweight figures within the Democratic Party have recently supported some bills favorable to Crypto Assets, indicating that the attitude towards Crypto Assets within the Democratic Party is changing.

However, are these changes enough? The research director of a certain research institution pointed out on social media that, due to Harris's choice of two officials who oppose Crypto Assets in the Biden administration to join her team, she may continue Biden's hostile policies.

It is important to note that Trump has clearly proposed a plan to use Bitcoin as a strategic reserve, and is even considering using Bitcoin to address the United States' dollar debt issue. These bold statements are currently unmatched by the Democratic Party. Given Harris's past actions and the Democratic Party's long-standing strict policies, it is hard to believe she would propose lenient policies.

Trump's Friendly Attitude Towards Crypto

Trump's advantage lies in his consistent crypto-friendly stance. From releasing multiple series of NFTs, to hosting dinners for NFT holders, to boldly attending the Bitcoin conference at the risk of his life, compared to Biden who rushed to launch his own meme to win the favor of the crypto community when he was significantly behind, and Harris hiring a crypto team and holding meetings, these seemingly glamorous moves, Trump's performance is undoubtedly more "sincere".

From the perspective of the Crypto Assets market, whether it is the relatively loose policies during Trump's presidency or the recent surge of concept coins related to Trump, the Crypto Assets market clearly leans towards him.

In addition, Trump recently held an online event with leading figures in the Crypto Assets space on social media platforms. Although the entire conversation did not mention Bitcoin or Crypto Assets, Trump's proactive engagement undoubtedly boosted his favorability within the crypto community. This positive action indicates that Trump seems to be trying to consolidate his support in the crypto community and demonstrate an interest and open attitude towards the field.

Although we can criticize that his actions and statements may just be "pie in the sky" to win votes, compared to the long-term harsh policies of the Democratic Party, the encryption market is clearly more willing to accept Trump's "big pie". After all, every time a political event related to Trump emerges, it brings a considerable surge to the Crypto Assets market. In the face of visible positive aspects, perhaps we do not need to overly expect the elusive and intangible Harris policy.

Conclusion

Overall, Harris's attitude towards Crypto Assets seems to be still in exploration. Although she has recently taken some measures to try to get closer to the Crypto community, her actions and statements seem to always contradict each other, and her position remains unclear. Personally, compared to Trump, it is difficult to have enough confidence in Harris at this stage. For the Crypto market, whether Harris's leadership can truly bring positive benefits still needs time to verify. As the election battle progresses, it might be worthwhile to continue following her movements in this field, as clearer signals may emerge.