Vice President Kamala Harris, who recently vowed to embrace the development of artificial intelligence and cryptocurrencies, shook the political landscape.
Speaking in New York City at a high-profile fundraising event, he touted his economic plan, which promises to boost innovation while protecting consumer protections.
Harris emphasized that if elected, he will work with stakeholders from labor groups and small business founders to large corporations.
His point is simple: America’s future must be invested in by embracing modern technology as a digital asset.
Creative Vision
Harris’ emphasis on the AI and crypto-enabled environment comes at an important time. The technology space is growing at a rapid pace, and many people feel that the US should move forward at the same pace as the rest of the world.
By encouraging investment in those sectors, Harris wants to make America a center for innovation. He said, “We will work together to invest in America’s competitiveness while pledging to create a collaborative ecosystem that enables technological growth.”
This is an important and constructive statement from @KamalaHarris.
It’s not leaning forward as much as looking at the concrete and the perspective taken @realDonaldTrumpbut it is still notable because:
– sees the creation of digital assets as important and standard…– Faryar Shirzad 🛡️ (@faryarshirzad) September 22, 2024
The vice president is not only playing the economic card but the consumer protection and investor protection card at the same time. Harris wants clear and effective regulations to encourage the development of emerging industries without stifling innovation.
For many voters who want change but are wary of taking that leap of faith in new technology, this new combined protectionist appeal could be a winning package.
This is progress and good…
…but “while protecting our consumers and investors” can mean many things.
The anti-crypto army is using “consumer protection” as a smokescreen to hide their efforts to destroy our industry.
I, for one, want to see the details of the policy.
– Jake Chervinsky (@jchervinsky) September 22, 2024
Kamala Harris: Crypto’s Brightest Hope?
The timing of Harris’ statements could not be better for the cryptocurrency market. After his comments, the price of Bitcoin rose on the hope among investors. Many people are now convinced that his support can turn things around in the industry, which has recently come under heavy criticism from regulators.
Harris’ public endorsement could boost the perception of crypto as a sustainable investment opportunity and encourage more to get involved in digital assets.
As of today, the market cap of cryptocurrencies stood at $2.18 trillion. Chart: TradingView.com
It is interesting that the latest polls show that he may be helping himself by supporting the sectors as they are slowly starting to give him a chance in the elections. The probability of Harris winning the presidency, based on data from 538, has increased to 48.4% while that of former President Trump is still at 45%.
This new trend shows how the appreciation of digital currencies in general can appeal to a wider electorate, of course, the younger voters who are more interested in digital currencies.
The Way Forward
As Harris continues his campaign, the focus on AI and cryptocurrency will likely increase. He seems to present himself as a politician who recognizes the need to accept technological advances but ensures the protection measures that exist in front of the public. This balance may play an important role in his policy direction if he becomes president.
Yes, challenges remain. The crypto industry remains subject to regulatory uncertainty, and many stakeholders are looking forward to clarity on how policies may play out under the new administration.
Harris’s promise of clear regulations is appealing, but this should be interpreted as an act of policies that promote growth without compromising security.
In her campaign to bring back AI and cryptocurrencies, Kamala Harris has drastically changed the political lexicon on the subject of technology. Harris will be an advocate for innovation at the same time as he promises consumer protection in order to create a win-win environment.
It will be interesting to see how voter opinion will translate during the election into his proposals and shape the course that digital assets in America take in the future.
Featured image from the Los Angeles Times, chart from TradingView