- Vivek Ramaswamy has questioned Kamala Harris’ pro-crypto turn and called for a more detailed stance on critical issues such as self-custody of assets and the role of the SEC.
- Recent regulatory action against crypto-friendly banks has led to skepticism about the seriousness of Harris’ shift toward a more crypto-friendly position, with concerns about ongoing systemic challenges.
- Donald Trump is using his pro-crypto stance to appeal to voters concerned about cryptocurrency issues, making bold policy promises that contrast sharply with Harris’ current approach.
On August 13, Vivek Ramaswamy caught attention on CNBC when he raised doubts about Kamala Harris’ sudden interest in cryptocurrencies. With Donald Trump, the former president, making cryptocurrencies a central campaign issue, Ramaswamy wondered if Harris’ change of stance was genuine or just a clever move to attract crypto supporters.
Ramaswamy questions Harris’ genuine support for crypto
On August 13, former 2024 presidential candidate Vivek Ramaswamy appeared on CNBC, where he was asked if he believed presidential candidate Kamala Harris would embrace the crypto industry.
Ramaswamy responded that he believes her “detail” on the crypto sector will change as she tries to gain votes from the community now that former President Trump has made the sector a campaign issue.
The former Republican presidential candidate argued that Harris’ seriousness about pro-crypto positions should be measured by how specific she is on crucial issues such as self-custody of assets and the leadership of the Securities and Exchange Commission.
Ramaswamy told CNBC: “I urge Kamala Harris not to just use words and platitudes, but to go into detail and say what she really thinks about self-managed assets. Let her tell us whether she thinks Gary Gensler should continue to lead the SEC.”
Ramaswamy concluded that cryptocurrencies should not be a partisan issue and that any well-considered policy stance Harris takes on cryptocurrencies would greatly benefit the country and the “marketplace of ideas,” even if he disagrees with her specific policies.
Harris’ crypto “reset” under scrutiny
The Federal Reserve’s recent regulatory actions against Customers Bank, a crypto-friendly institution, have sparked backlash against Harris’ campaign, with key figures in the crypto industry questioning the seriousness of her alleged “crypto reset.”
Tyler Winklevoss, co-founder of Gemini, interpreted these actions as a sign that “Operation Chokepoint 2.0” – a reference to systematic efforts to isolate the crypto industry from traditional banking services – is still ongoing.
Trump’s campaign uses cryptocurrencies with specific policies
While prediction markets predict a neck-and-neck race between Harris and Trump, Harris’ lack of concrete positions on digital asset regulation could hurt her chances with crypto-focused voters in November.
On the other hand, Trump’s campaign team has taken advantage of the issue by speaking at the Bitcoin 2024 conference in Nashville, Tennessee. The former president has continued his pro-crypto rhetoric in various media appearances, suggesting possible measures such as paying off the US national debt with Bitcoin and urging the Biden administration not to sell the US Bitcoin reserves.
Diploma
In short, Vivek Ramaswamy’s comments underscore the tensions in the crypto debate among the presidential candidates. While Trump is using crypto to boost his campaign, Harris’ response and recent regulatory actions could significantly change the political landscape and influence crypto-interested voters.
It will be interesting to see how this issue develops in the coming weeks.
