Voters May Not Swing Kamala Harris’ Way Despite Crypto Outreach: Bernstein
Vice President Kamala Harris’s recent efforts to engage the crypto industry might not be enough to influence voters in the upcoming US presidential election, according to Bernstein analysts.
Harris has reportedly directed her aides to meet with industry officials in an attempt to “reset” relations with some of the largest crypto exchanges. The specifics of the discussions between the Harris campaign and the industry remain unclear.
However, crypto companies have long asked for the same thing. They want clear, specific rules for digital tokens that fit the crypto economy, instead of the heavy, cumbersome regulations used for Wall Street.
Bernstein observed a significant change in the political landscape regarding digital assets, highlighting the increasing bipartisan support for cryptocurrencies, Benzinga reported Tuesday.
Despite this shift, the firm remains skeptical that Harris’ late-stage shift toward crypto will effectively challenge the strong backing that former President Donald Trump has already secured within the crypto community.
“Bernstein believes that while Harris’s attempts to engage with crypto firms are noteworthy, they may not be sufficient to alter the industry’s current leanings,” analysts said.
There’s a growing feeling that the Democratic Party’s regulations have pushed away much of the crypto industry, which now prefers the Trump administration because of its clear support for crypto.
Analysts stressed that to win over the crypto sector, policies need to be substantial and timely. Harris’ recent actions, like connecting with top crypto figures and trying to reset relationships, seem more like a response than a leading move.
Compared to Harris, Trump appears to have more support from the crypto community.
