The echo of cryptocurrency is growing louder in the election race. Vice President Harris has remained silent on crypto since becoming the Democratic nominee, raising concerns among industry insiders about her stance. Meanwhile, Trump has been all-in on Bitcoin and the broader crypto space from the start.

November's election sets up a showdown between Republican Trump, who boldly declared he wants to turn America into the "crypto capital of the world," and Democrat Harris, who’s been comparatively quiet on an industry that's hard to ignore. Three of four crypto holders say a candidate’s crypto policy will influence their vote.

As the election draws nearer, both candidates are sharpening their positions on digital assets, acknowledging cryptocurrency's significant role in today’s financial sphere.

Post-Election Candidates' Promises for Crypto 

Trump has vowed to make the U.S. the Bitcoin mining capital by ensuring access to cheap electricity, emphasizing the geopolitical importance of cryptocurrency. He even pledged not to sell the roughly 200,000 Bitcoins held by the U.S. government, keeping them as a strategic reserve.

The other candidate isn’t staying quiet either. Starting in September, Harris has been stepping up her crypto game, listing blockchain technology among several emerging sectors where she wants the U.S. to “remain dominant.”

Her recent statements and campaign efforts suggest a growing recognition of the industry’s importance, especially for those struggling within the traditional financial system. Harris promises to significantly improve the regulatory landscape for American crypto companies. She has also introduced plans to create a regulatory framework for cryptocurrencies and digital assets, with a focus on protecting Black men who invest in these markets.

The statement reads:

“She will ensure that digital asset owners and investors benefit from a strong regulatory framework.”

According to Galaxy Research, Kamala Harris is more crypto-friendly than her boss, President Joe Biden. Alex Thorn, head of research at Galaxy, commented on X:

“While Trump is undoubtedly more pro-industry, we’re optimistic that Harris could offer greater support than Biden.”

However, Harris takes less favorable positions on other key issues, such as taxes, Bitcoin mining, and self-custody.

According to Galaxy, Harris remains “extremely hostile” to the industry when it comes to taxation. Her plans include “rolling back Trump’s tax cuts,” which would likely lead to higher capital gains taxes for crypto holders.

Meanwhile, Trump has expressed his support for Bitcoin mining, which he links to American production. Trump wants more Bitcoins “produced in America,” according to a report.

Harris has not taken such a favorable stance on Bitcoin mining or self-custody.

Trump has also promised to “protect the right to self-custody,” meaning the ability to store crypto assets in a wallet controlled by the owner, rather than with a third-party custodian.

Notably, both candidates remain aggressive when it comes to imposing financial sanctions on foreign adversaries involved in cryptocurrency transactions.

The candidates’ contrasting approaches highlight the key role crypto policy could play in the election. Stakeholders are hopeful that clear regulatory frameworks and supportive policies can help close the racial wealth gap and promote inclusive financial opportunities.

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