Kamala Harris might be the new face of the Democratic Party in the upcoming presidential election. And some people think this could be good news for cryptocurrency.

Here's what's going on:

  • Joe Biden dropped out of the presidential race on Sunday
  • Kamala Harris is now expected to be the Democratic candidate
  • Some crypto experts think Harris might be more friendly to crypto than Biden was
  • Harris' team is already asking questions about crypto policy

Let's break this down and see what it all means.

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First off, Kristin Smith, who runs the Blockchain Association (a group that supports crypto), thinks Harris could change how Democrats think about crypto. Smith says Harris being the candidate is "a fresh opportunity to have a reset" on crypto policies.

Why does Smith think this? Well, Harris is younger than Biden and comes from California, where there's a lot of tech companies. This might mean she understands crypto better.

The Blockchain Association has already tried to talk to Harris' team about crypto. They haven't heard back yet, but they're hopeful. Smith thinks Harris might not have the same views on crypto as Biden did.

It's not just the Blockchain Association that's reaching out. Another group called the Digital Chamber has asked Harris to talk with crypto leaders and support crypto in her campaign.

Not everyone is sure about Harris, though. Some people worry she might continue Biden's tough stance on crypto. For example, David Bailey, the founder of BTC Inc., expressed his doubts on social media. He posted on X (formerly Twitter), asking, "What can [Harris] say to us when she's actively imprisoning developers, forcing our industry overseas?"

However, Smith is staying positive. She doesn't think Harris will have exactly the same ideas as Biden. "Harris can differentiate herself," Smith said. This means Harris might choose to have different opinions on crypto than Biden did.

But here's where it gets really interesting: Mark Cuban, the billionaire who likes Bitcoin, says Harris' team has already been asking him questions about crypto. Cuban thinks this is a good sign and that Harris might be more open to new tech like crypto and AI than Biden was.Meanwhile, Donald Trump, who's running for president on the Republican side, has been getting a lot of support from tech and crypto people. There's even a group called Fairshake that's raised over $200 million to support crypto-friendly candidates. Plus, he’s scheduled to speak at the Bitcoin conference in Nashville. 

So, what does all this mean for the crypto market?

  1. The next president could have a big impact on crypto rules in the US.
  2. Harris might be more open to crypto than Biden was, but we don't know for sure yet.
  3. Both Democrats and Republicans are thinking about crypto as they run for president.

Related: What is Kamala Harris's True Position on Crypto?

It's still early days, and we don't know exactly what Harris thinks about crypto. She hasn't said much about it publicly. But the fact that her team is asking questions and reaching out to crypto experts is a good sign for the market.

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