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In a virtual event 'Crypto4Harris', aimed at garnering crypto support for Kamala Harris, US Senate Majority Leader Chuck Schumer revealed that it is still possible to get some kind of crypto legislation out this year.
"We all believe in the future of crypto," Congress has a responsibility to provide common sense and sound regulation on crypto, and we need your support to make sure that any proposal is bipartisan," said Schumer at an online event hosted by Crypto4Harris according to Coindesk.
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The virtual event was attended by almost a dozen other Democratic lawmakers and prominent figures like Billionaire Mark Cuban and SkyBridge Capital's Anthony Scaramucci.
Mark Cuban mentioned that Trump and Republicans are only interested in crypto to boost the wealth of their allies." They just want to see the Bitcoin maxis get richer," said Cuban while Anthony Scaramucci who was once Trump's press secretary, said he was looking for crypto to remain bipartisan and "less tribal."
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Without mentioning any specific bill, Schumer mentioned on two occasions that his goal was the have a bill passed out of the Senate and enacted by year-end. "Crypto is here to stay, no matter what, so Congress must get it right," said Schumer. However, several users remain unsold, expressing their skepticism on X.
Gemini's co-founder Tyler Winklevoss took to X saying "Harris a no-show at her own event. What a clown show." [sic]While Joe Mccann of Asymmetric Financial is also doubtful of this change in stance by the Democrats on Laura Shin's podcast.
🚫 @joemccann doesn’t see a “crypto reset” happening under Harris. "If they were going to reset, wouldn’t they have pumped the brakes by now?"
— Laura Shin (@laurashin) August 14, 2024
💼 What’s the future of crypto under the current administration and a potential Harris presidency?
🎧 Listen now: https://t.co/Ej8Ui8BKCO pic.twitter.com/sB0mTDoIzC
Until Harris clarifies her policy positions, she'll largely be evaluated based on the Biden administration's track record. Under the Biden administration, there have been numerous prolonged legal battles against crypto companies and a failure to establish industry-specific regulations.
