The recent appointment of Kamala Harris as the Vice President of the United States could potentially be a positive turn for Bitcoin and the overall cryptocurrency industry. As per an analysis by investment firm VanEck, Harris’ economic team might be more open to digital assets compared to the Trump administration. The analysis suggests that the Biden-Harris administration could provide a friendly environment for the growth of Bitcoin, considering the progressive stance they have shown towards technology and innovation.
The VanEck report highlights the factors that might make the new administration more accepting of cryptocurrencies. One of these is the appointment of Gary Gensler, a former chairman of the Commodity Futures Trading Commission and a professor at MIT who teaches cryptocurrency and blockchain technology, as the head of the financial policy transition team. Gensler’s expertise and understanding of the digital asset sphere could influence the administration’s approach towards Bitcoin and other cryptocurrencies.
Furthermore, Kamala Harris herself has been a part of the Senate Budget Committee, which has dealt with cryptocurrencies in the past. While her personal stance on Bitcoin remains unknown, the presence of crypto-savvy individuals in her team could lead to a more balanced approach towards the regulation of digital assets. Overall, the positive attitude towards innovation and technology by the Biden-Harris administration might pave the way for a favorable environment for Bitcoin and other digital currencies.
