Vivek Ramaswamy predicts Harris may adopt a pro-crypto position

Former 2024 Presidential candidate Vivek Ramaswamy made an Aug. 13 appearance on CNBC, where he was asked whether or not he thought Kamala Harris would embrace the crypto industry.

Ramaswamy responded by saying that he believes “her verbiage” toward the crypto industry would change in an attempt to garner votes from the crypto community now that former President Trump has turned crypto into a campaign issue.

The former Republican candidate for President explained that Harris’ sincerity to pro-crypto positions should be judged by the specificity of her policy positions on crucial issues like self-custody and the leadership at the Securities and Exchange Commission (SEC). Ramaswamy told CNBC:

"I challenge Kamala Harris to not just cite the pieties and the words— go into detail, say what you actually believe about self-custody of assets. Say what you actually believe about whether you think Gary Gensler should continue as the leader of the SEC."

Ramaswamy ultimately concluded that crypto should not be a partisan issue and that any examples of thoughtful crypto policy positions from Kamala Harris would greatly benefit the country and the "marketplace of ideas", even if he did not agree with the specific policies outlined.

Harris campaign's crypto 'reset' comes under heavy scrutiny

A recent regulatory enforcement action from the Federal Reserve toward Customers Bank, which is a crypto-friendly banking institution, has created a backlash against Harris' campaign, as prominent members of the crypto industry call into question the sincerity of Kamala Harris’ purported crypto 'reset'.

Gemini co-founder Tyler Winklevoss took the actions as an indication that Operation Chokepoint 2.0, a reference to the systematic attempts to isolate the crypto industry by cutting it off from traditional banking services, was still in full swing.

Trump campaign leverages crypto through specific policy initiatives

Although prediction markets currently show a tossup between Harris and former President Trump, the lack of specific policy positions on digital asset regulation could hurt Harris’ chances with single-issue crypto voters in November.

Conversely, the Trump campaign has managed to capitalize on the issue by speaking at the Bitcoin 2024 conference in Nashville, Tennessee. The former President continued his pro-crypto rhetoric in several media appearances by floating potential policies like paying off the United States national debt with Bitcoin (BTC) and cautioning the Biden administration not to sell US Bitcoin holdings.