Alex Thorn, Head of Research at Galaxy Digital posted on X to release his assessment of the policy positions of Biden, Harris, and Trump on major Bitcoin and crypto issues.
While the assessment is subjective, it provides a useful summary of the broader differences between each candidate. What is clear is that Harris is more supportive than Biden, a definite win for the crypto industry.
Source: X
Thorn wrote, “I’m releasing our policy scorecard on the positions of Biden, Harris, and Trump on major Bitcoin and Crypto issues.
Bottom line: While Trump is undoubtedly more favorable for the industry, we’re optimistic that Harris could be more supportive than Biden has been.
Source: X
Based on the analysis, we view downside risk of a Harris victory as limited, with explosive upside possible in the case of a Trump victory.
With little on the regulatory agenda, Bitcoin should fare well regardless of outcome. Altcoins face risk from Harris and could see outperformance with Trump.
The analysis is based on our review of public statements, intelligence derived from personnel around the campaigns, and signals from the campaigns both public and private.
U.S. Vice President Kamala Harris is continuing her push to connect with the cryptocurrency community as part of her “Opportunity Economy” platform.
On October 14, Harris is set to meet with Black entrepreneurs in Erie, Pennsylvania. Her agenda includes discussing the importance of supporting Black-owned small businesses, navigating cryptocurrency and digital asset regulation, and advocating for the federal legalization of cannabis.
Harris Pushes Opportunity Economy Focus
Earlier today the Harris campaign said they aim to win the support of Black men by creating an economy that empowers them to thrive—whether it’s through homeownership, starting businesses, or building generational wealth via crypto.
“Vice President Harris is committed to ensuring Black men are equipped with the tools to succeed—whether that’s buying a home, providing for their families, or building wealth.”
Source: kamalaharris.com
Softening Stance on Crypto?
While Harris has previously been viewed as aligned with an anti-crypto sentiment in Washington, her approach seems to be shifting. Some in the industry now see Harris as a candidate open to bipartisan solutions for regulating cryptocurrency and digital assets. However, not everyone is convinced of this so-called “crypto pivot.”
In contrast to campaign speculation, official documents related to her Erie event highlight her commitment to protecting cryptocurrency ownership rather than restricting it. The campaign materials state that Harris will advocate for regulations that ensure “Black men who invest in and own these assets are protected.”
Source: kamalaharris.com
Regulatory Framework and Black Investors
Harris is expected to unveil her support for a regulatory framework tailored to digital assets in Erie. According to her campaign’s announcement on Monday, her speech will lay out plans to help ensure that Black men—and others who participate in the crypto market—are protected under a more defined legal structure.
The campaign also noted that Harris is keenly aware that over 20% of Black Americans currently own or have owned cryptocurrency. Her proposed regulations aim to ensure these individuals benefit from fair oversight and are safeguarded from potential risks in the market.
The press release emphasized: “Vice President Harris understands how emerging technologies can open access to banking and financial services,” before reaffirming her intent to support a regulatory framework to protect investors in digital assets.
Source: https://bravenewcoin.com/insights/galaxy-digital-assess-crypto-policy-positions