The Crypto Assets industry may gain new momentum from the Harris era

As U.S. Vice President Kamala Harris continues to rise in the presidential campaign, industry insiders are beginning to think about her potential government's impact on the Crypto Assets industry. There are signs that the Harris administration might adopt a more open and supportive attitude.

Observers have raised a series of questions: Will the Harris administration bring in younger advisors who are more willing to embrace Crypto Assets and blockchain technology? Will it support fair and reasonable Crypto Assets legislation? Can it better serve Crypto Assets users and innovators compared to the Republican party?

Although it is too early to draw definitive conclusions now, the backgrounds, political leanings, ages, and advisor choices of Harris and her campaign partner Tim Walz provide some clues.

Former presidential advisor Mo Vela believes that Harris and Walz are both "pragmatists" who are good at building consensus and crossing party lines. This balanced perspective is crucial for advancing legislation on Crypto Assets reform. They are younger and may bring a "fresh perspective on Crypto Assets."

Harris grew up near Silicon Valley and has extensive experience in technology. Vela expects that the Harris-Waltz combination will bring a "more modern and relevant perspective, almost an Obama-style."

Industry insiders generally hold an optimistic view of the Harris administration. Concordium's CEO Boris Böhrel-Bilovitzki stated: "I am optimistic about Kamala Harris's presidency; she will support Crypto Assets." He noted that Harris has already been in contact with encryption experts and has close ties to Silicon Valley.

However, some are calling on the Harris-Wolfe team to make a clear public statement regarding their stance on Crypto Assets policy. Jack Soloway from the Cato Institute believes that it is necessary to see their firm position on this issue.

Regarding specific policies, Vira believes that the Harris administration is expected to achieve balanced and fair Crypto Assets reform legislation, but the industry itself also needs to unite. He stated that the encryption industry has taken a "chaotic approach" to regulation, and all parties should coordinate better.

Regarding whether to remove the current SEC Chairman Gary Gensler from office, Vera pointed out that it is not an easy task. The SEC is an independent agency, and the president does not have the authority to arbitrarily replace its chairman. However, Gensler is not popular among a wide range of industry participants, and it may be difficult for him to continue in office in the future.

It is worth noting that there are divisions within the Democratic Party on the issue of Crypto Assets. Aaron Klein of the Brookings Institution pointed out that some elected officials are skeptical about encryption, while many Democratic voters support Crypto Assets.

Klein believes that Harris's best strategy may be to "walk the middle path," distinguishing herself from the Biden administration while retaining enough flexibility.

Overall, industry insiders hope that the Harris administration can find a balance between promoting innovation, supporting businesses and consumers, and eliminating bad actors. If done correctly, this regulatory approach will benefit the long-term development of the Crypto Assets industry.