Charles Hoskinson, the founder of Cardano, voiced skepticism regarding Vice President Kamala Harris’s recent stance on cryptocurrencies. He reacted strongly after Brian Nelson, Harris’s senior policy advisor, pledged that Harris would support the crypto industry by setting clear regulations if she were elected president.
Advisor’s Promise to Crypto Industry
Nelson, during a roundtable at Bloomberg’s Democratic National Convention, stated that Harris is committed to fostering innovation, including in digital assets, within her potential administration. He assured that Harris would implement specific regulations to promote the growth and well-being of the crypto sector.
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Additionally, Nelson referred to Harris’s speech at a North California rally, where she vowed to eliminate unnecessary regulations and authoritarian control if elected. However, it’s noteworthy that Harris did not directly mention cryptocurrencies during her speech. The Harris campaign seems to be courting the crypto community, which has largely backed Republican candidate Donald Trump. Trump has consistently shown his support for cryptocurrencies and pledged to remove regulatory barriers that have hindered innovation.
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In contrast, the Biden administration has faced criticism from the crypto industry for its regulatory approach, which many in the sector view as overly restrictive. However, the SEC, under Biden, has pursued legal action against several major crypto entities, including Binance, Coinbase, and Kraken.
Hoskinson Dismisses Harris’s Claims as Empty Promises
Reacting to Nelson’s statements, Hoskinson dismissed them as mere bluffs. He tweeted that Harris’s promises lacked substance, noting that there was no clear plan or commitment to specific actions, such as firing SEC Chair Gary Gensler or making significant policy changes.
Hoskinson’s distrust stems from what he sees as a lack of intentionality in Harris’s stance. Hoskinson has been vocal in his criticism of Biden’s crypto policies.
He urged the crypto community to prioritize the future of digital assets when voting in the upcoming November elections, emphasising the importance of considering the long-term impact on the industry.
