Trump and Harris face off in debate as future crypto policies remain unclear

Source: Crypto Briefing

Crypto policy is unlikely to take center stage as Donald Trump and Kamala Harris square off in their first presidential debate Tuesday night, despite growing calls for clarity on the candidates’ stances.

A recent Benzinga poll found only 6% of respondents were most interested in hearing the candidates discuss digital assets, with the economy, jobs and immigration ranking as top priorities.

However, the crypto industry is pushing for more attention, with advocacy group Chamber of Progress urging debate moderators to give voters insight into where Trump and Harris stand on crypto before November’s election.

Policy differences

The candidates bring markedly different track records on crypto to the debate stage. As president, Trump reportedly told his Treasury Secretary to “go after” Bitcoin, later calling it a “scam” after leaving office. However, since announcing his 2024 run, Trump has pivoted to a pro-crypto platform, vowing to support Bitcoin miners, oppose central bank digital currencies, create a strategic reserve with Bitcoin, and fire SEC Chair Gary Gensler if elected.

In contrast, Vice President Harris has remained largely silent on crypto policy throughout her campaign. Her platform emphasizes prioritizing innovation and ensuring US leadership in emerging industries, but makes no explicit mention of digital assets and crypto. A campaign advisor stated Harris would “support policies that ensure that emerging technologies and that sort of industry can continue to grow,” but provided few specifics.

The lack of clarity from Harris has left the crypto community searching for clues about her potential approach. Some industry observers have seized on reports that Democratic donors are pressuring Harris to replace Gensler at the SEC if elected, viewing it as a potential opening for a crypto policy reset. Some rumors have also suggest that Harris is considering Gensler for a seat in the US Treasury, though these claims have not been corroborated.

“I would think it would be a question to her because she’s a little more of a blank slate, at least as of now,” said Ashley Ebersole, general counsel at 0x and former SEC senior counsel.

He suggested moderators could press Harris on whether she would continue what some view as the Biden administration’s hostile stance toward crypto.

Even if digital assets don’t come up explicitly, crypto advocates will be parsing both candidates’ remarks on innovation, regulatory leadership and economic policy for insights. Some analysts believe a strong debate performance by Trump could provide a short-term boost to crypto markets, given his recent pro-Bitcoin statements.

With polls showing a tight race and crypto-funded PACs poised to influence key congressional contests, the industry is eager for more clarity from both campaigns. But whether tonight’s debate will shed new light on the future of US crypto policy remains to be seen.

With the debate already ongoing at the time of writing, so far, neither candidate has explicitly mentioned crypto, except by implication on statements about technology and finance.

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Author: Vince Dioquino