Senator Chuck Schumer pledges pro-crypto laws if Harris is president

Democratic Senator Chuck Schumer, the majority leader of the United States Senate, says he’s making it his goal to pass bipartisan pro-crypto legislation by the end of the year if Kamala Harris is elected President.

Speaking at the Crypto4Harris Town Hall meeting — a grassroots crypto advocacy group pushing for a pro-crypto pivot in the Harris campaign — Schumer said lawmakers could no longer “stick their heads in the sand” when it comes to fostering crypto innovation in the US, saying: 

“We cannot afford to continue to sit on the sidelines because then we risk crypto going overseas to lowest common denominator countries where there will be no regulation at all."

Noting the growth, Schumer said a Harris administration would not necessarily be anti-crypto on principle, adding that he would make it his goal to pass pro-crypto legislation in the United States by the end of the year if Harris were to be elected president. 

“I want to bring members on both sides of the aisle here in the Senate together, create momentum so we can pass sensible legislation that helps the United States maintain its status as the most innovative country in the world.”

"Innovation is our North star when it comes to AI or crypto," Schumer said, noting that lawmakers need to provide guardrails to protect users of the technology, preserve national security and ensure crypto could not be abused by nefarious actors. 

“Congress has a responsibility to provide common sense and sound regulation on crypto, and we need your support to make sure that any proposal is bipartisan,” Schumer added, calling upon voters and crypto enthusiasts to pledge their support to the Harris campaign.