①USA Vice President and Democratic candidate Harris promises to support a regulatory framework for cryptos; ②This commitment has increased investors' optimism, driving bitcoin to its highest level in two weeks; ③However, some believe that Harris's attitude towards cryptos is far less supportive than that of her competitor, Trump.
Financial Association News on October 15th (Editor: Zhou Zi Yi) With USA Vice President, Democratic candidate Harris promising to support a regulatory framework for cryptos, bitcoin surged to its highest level in two weeks.
This commitment has increased investors' optimism. On Monday (October 15), the world's largest digital assets market $Bitcoin (BTC.CC)$rose by 5.6%, then narrowed gains, closing at $65,677. In addition,$Ethereum (ETH.CC)$And.$Solana (SOL.CC)$There is also a certain increase.
According to a statement, Harris pointed out that over 20% of African Americans own or have owned crypto assets, which is why her plan will ensure that owners and investors of digital assets can benefit from the regulatory framework, thereby protecting African American males and other groups participating in this market. Harris' latest commitment can be seen as a response to the digital currency industry, as she had indicated at the end of September that she would promote crypto development.
Along with the rise of bitcoin, the stock prices of bitcoin-related companies have also rebounded. As of Monday's (October 14th) close, digital currency exchange$Coinbase (COIN.US)$rose by over 11%, mining company$MARA Holdings (MARA.US)$rose by nearly 6%, while the long positions on bitcoin$MicroStrategy (MSTR.US)$Almost no change after soaring 16% last Friday.
Not as much as Trump but better than Biden
Author Noelle Acheson of 'Crypto is Macro Now' newsletter commented on bitcoin's recent rally, stating, 'This increase is mainly driven by the election, initially from Trump's leading position in the prediction markets and polls, and later from Harris' campaign team's semi-supportive statement on the crypto market.' Acheson also added, 'I haven't seen the details of Harris' crypto policy yet, but it doesn't sound as negative as the Biden administration.'
Acheson further added, 'I have not seen the details of Harris' crypto policy, but it sounds less negative than the Biden government.'
Also holding such views are the Galaxy Research firm. The company points out that Harris is more friendly towards cryptos than President Joe Biden, but far less so than competitor Donald Trump's attitude towards the crypto industry.
Before Harris made a commitment to supporting a regulatory framework for cryptos, former US President and Republican candidate Donald Trump actively courted crypto voters during his campaign and made several efforts related to cryptos.
Trump once vowed to make the USA the 'crypto capital of the world' and advocated for decentralized financial platforms. He also announced his latest NFT digital trading card series through his social platform Truth Social, his fourth foray into the NFT space after three successful releases, further solidifying his position in the crypto world.
An article published on the X platform by Galaxy research director Alex Thorn states, 'Harris has promised to greatly improve the regulatory environment for US crypto companies, but she holds unfavorable positions on other related issues such as taxation, bitcoin mining, and self-custody.'
'Although Trump undoubtedly favors the industry more, we optimistically believe that Harris may provide more support than Biden.' Thorn also points out.
Editor/ping