Cryptocurrency investors and industry executives are organizing a fundraiser in Washington, D.C. with the goal of raising at least $100,000 to support Vice President Kamala Harris’ presidential campaign. The event is scheduled for Sept. 13 and coincides with the Black Caucus in Congress and the Hispanic Caucus in Congress.
Regulators, including Cliff Mesidor, CEO of the Blockchain Foundation, and Tiffany Smith, co-chair of the Blockchain and Cryptocurrency Working Group at Wilmerhill Law Firm, are encouraging Harris to adopt a more lenient regulatory approach to the cryptocurrency industry. Ticket prices for the fundraiser range from $500 to $5,000.
The fundraising effort comes as Harris became the Democratic presidential nominee after President Joe Biden withdrew from the race in July. Although the fundraiser’s goal is modest compared to the large funds Harris has already raised, it represents a segment of the cryptocurrency industry that favors Harris over Republican candidate Donald Trump, who has also sought the support of crypto donors with favorable political promises.
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Regulators, including Rahila Zafar, a cryptocurrency institution with expertise in artificial intelligence, hope that the potential Harris administration will mitigate the current stance on cryptocurrencies. The Securities and Exchange Commission under Biden has been strict on the sector, leading to disputes with the industry over the applicability of securities laws.
The fundraising group aims to start discussions about how the Biden administration can foster cryptocurrency innovation and improve access to capital for people of color. Neither the group nor a separate entity, Crypto4Harris, which also supports Harris and in which speakers such as Mark Cuban and Anthony Scaramucci participated, are associated with Harris’ campaign.
Although Harris has not publicly disclosed her stance on cryptocurrencies, her campaign staff has reached out to prominent crypto companies such as Coinbase (NASDAQ:COIN) and Ripple. Moreover, large crypto companies contribute to supporting pro-crypto candidates in both political parties through superior political action committees.
At the Democratic National Convention earlier this month, Harris’ senior campaign adviser Brian Nelson indicated that Harris would support the growth of emerging technologies, a comment that resonated with the cryptocurrency industry as a sign of hope for their interests.
Reuters contributed to this article.
This article was translated with the help of an artificial intelligence program after an editor’s review. For more details please refer to Banha Terms and Conditions
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