US Crypto Legislation Out Of Kamala Harris Policy, Trump Takes Lead

Highlights

Senator Chuck Schumer, who previously promised to prioritize US crypto legislation by year-end, has now backtracked.
Despite accepting crypto donations, Vice President Kamala Harris has not included crypto in her policy decisions.
Latest poll survey suggests Harris is losing ground to Donald Trump.

US Vice President Kamala Harris has continued to stay silent on important crypto legislation while conveniently ignoring digital assets in her latest announcement on policy decisions. Meanwhile, New York Senator Chuck Schumer, who had previously vowed to advance US crypto legislation by the end of the year, has now revised his stance

US Crypto Legislation Take BackSeat

Fox Business Journalist Eleanor Terret reported that New York Senator Chuck Schumer, who once promised to bring US crypto legislation by the year-end, has now backtracked. In his letter to Senate colleagues, Senator Schumer makes no mention of crypto legislation as part of their key priorities for passing bipartisan legislation in the remaining months of Congress.

During the Crypto for Harris Townhall Meeting in mid-August, Chuck Schumer said: “We cannot afford to continue to sit on the sidelines, because then we risk crypto going overseas to lowest common denominator countries where there’ll be no regulation at all, and if we get nothing done, extremists win.”

He also shared his strong intentions to bring crypto legislation to the US by the year-end. But Schumer clearly backtracks on his promises. Journalist Terret stated that instead, the focus in his letter shifted toward artificial intelligence.

🚨NEW: @SenSchumer sent a letter to his Senate colleagues where he mentioned priorities for passing bipartisan legislation in the remaining months of Congress. Cryptocurrency legislation was not mentioned, but artificial intelligence was.

This, despite his adamance in the… pic.twitter.com/d0io7iWh75

— Eleanor Terrett (@EleanorTerrett) September 8, 2024

Kamala Harris Policy Doesn’t Have Crypto

After a strong push for pro-crypto policies by Republican Presidential candidate Donald Trump, Kamala Harris’s campaign team is making all efforts to reach out to the crypto industry. Pro-crypto Democratic supporters like billionaire Mark Cuban have also been working for the Crypto4Harris campaign. Interestingly, Ripple co-founder Chris Larsen supports Kamala Harris along with 88 other executives. However, it seems that the Vice President continues to ignore crypto as part of her policy decision.

Interestingly, Kamala Harris continues to take crypto donations via the Coinbase platform, per the CoinGape report last week. Crypto lawyer MetaLawMan called out the Harris bluff stating how there’s no mention of crypto or US crypto legislation on her official campaign website. “There is no mention of digital assets, crypto, or blockchain technology anywhere,” he said.

BREAKING. Kamala Harris has just posted her policy positions on her website.

There is no mention of digital assets, crypto or blockchain technology anywhere.

So, now we know.https://t.co/2O7g1N4J6W

— MetaLawMan (@MetaLawMan) September 9, 2024

MetaLawMan stated that he’s not surprised at all with the current developments and that he doesn’t expect anything better from the Harris team on crypto.

On the other hand, a New York Times report suggests that Harris has been losing grounds to Donald Trump per the latest major nonpartisan national survey.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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