A new policy scorecard compares the positions of U.S. presidential candidates Donald Trump, Kamala Harris, and current President Joe Biden on cryptocurrency and blockchain regulation, with Trump emerging as the most favorable candidate for the crypto industry.
Alex Thorn, Head of Galaxy Research, wrote on Twitter, “Trump is undoubtedly more favorable for the industry,” while also expressing optimism about Harris’ potential to improve on Biden’s record.
Kamala Harris has shown a pro-digital assets stance that could offer more support than Biden’s policies, particularly in terms of innovation and financial inclusion, as per the report.
The report is based on public statements, intelligence from campaign insiders, and both public and private signals, offering a detailed view of how each candidate may impact the future of the crypto industry, Thorn said.
TRIGGER ALERT 🚨
i’m releasing our policy scorecard on the positions of biden, harris, and trump on major bitcoin & crypto issues
bottom line: while trump is undoubtedly more favorable for the industry, we’re optimistic that harris could be more supportive than biden has been pic.twitter.com/qNKeLtppcS
— Alex Thorn (@intangiblecoins) October 14, 2024
While Harris may not match Trump’s aggressive support for crypto, her approach shows limited downside risk for the industry, he added.
The report sees Harris as a more moderate candidate on Bitcoin, with potential for greater regulation around altcoins, but with policies expected to be more favorable than Biden’s.
Trump’s stance on cryptocurrency centers around deregulation and innovation. His plan to replace SEC Chair Gary Gensler is a major talking point, as Gensler’s tough enforcement has rattled crypto firms and advocates, the report shows.
It should be noted that U.S. presidents don’t actually have the authority to unilaterally “fire” the heads of agencies, like the SEC. That hasn’t stopped Trump from promising to do it.
![Former President Donald Trump. Photo: Shutterstock](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2024/07/trump-gID_7.png@webp)
All of Trump's Crypto Promises, From Boosting Bitcoin Mining to Firing Gensler
Former President Donald Trump has pitched big plans for crypto on the campaign trail, folding several promises into his reelection bid while trying to make inroads with digital asset owners. When it comes to the nascent industry, crypto isn’t listed among 20 core goals that make up the Republican Party’s official 2024 platform—and the topic didn't come up during his interview with Elon Musk in August. Still, in a draft document released in July, crypto was mentioned alongside artificial intellig...
A key differentiator in Trump’s platform is his strong backing of Bitcoin mining. Unlike Biden, who has remained neutral, and Harris, who has raised environmental concerns, Trump supports deregulating BTC mining to expand domestic operations.
The former president is now pushing his pro-crypto platform further with the launch of World Liberty Financial, a DeFi project that promises to help make the U.S. the “crypto capital of the world.”
The project, aimed at accredited investors, will offer services on the Ethereum blockchain, and the public sale of tokens is expected to begin soon.
While Kamala Harris has been less vocal about crypto until recently, her latest campaign signals indicate a shift.
On Monday, Harris revealed an agenda targeting Black male voters, pledging to introduce a regulatory framework to protect American crypto holders.
![Kamala Harris. Photo: Shutterstock](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2024/07/kamala-harris-vp-presidential-candidate-gID_7.jpg@webp)
Kamala Harris Reveals Explicitly Pro-Crypto Stance in Bid to Win Over Black Men
After months of tiptoeing around the subject of crypto, Kamala Harris’ campaign came out swinging on Monday with an explicitly pro-digital assets agenda, as part of a platform targeting Black male voters. The platform, “Kamala Harris Will Deliver for Black Men,” includes a commitment from the Vice President that if elected, she would support “a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected.” The document goes furt...
Last month, the Democrat candidate vowed to keep the U.S. “dominant in blockchain,” alongside other emerging technologies like AI and quantum computing.
Meanwhile, Joe Biden remains the least favorable candidate for the crypto industry, according to the report.
The Biden administration has been criticized for its aggressive stance on regulatory enforcement, particularly through the Treasury’s Bank Secrecy Act (BSA) expansions and sanctions on blockchain firms.
Per the report, his failure to clarify taxation and IRS-related issues has further distanced him from the crypto community, making Trump and Harris better options for crypto enthusiasts.
As the election draws near, both candidates are bringing out their best game to win over voters, with 56% of voters supporting Trump’s pro-crypto stance, as per a recent Consensys survey.
The poll revealed that 85% of crypto owners want presidential candidates to adopt pro-crypto policies, noting how the crypto vote could play a decisive role in the 2024 race.
Edited by Stacy Elliott.