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Author: Hadriana Lowenkron, Bloomberg; Compiled by: Tao Zhu, Bitchain Vision
Harris’ campaign policy adviser said she will support measures to help develop digital assets and highlighted efforts to gain the emerging cryptocurrency industry to expand its political reach.
“She will support policies that ensure emerging technologies and such industries can continue to grow,”Brian Nelson, a senior campaign policy adviser, said Wednesday at the Democratic National Convention Bloomberg News Roundtable.
Some cryptocurrency investors support former President Donald Trump’s campaign after the Republican candidate said he favors reducing the administration’s regulation of the industry.The Republican — who previously called cryptocurrency a scam — now holds at least $1 million in digital currency and says the U.S. should embrace the industry so that China won’t lead.
Harris’ team said they are still interested in implementing protection measures in the industry, which has witnessed the collapse of many well-known companies.
“Obviously, they have said that one of the things they need is stability rules,” Nelson said, noting that Harris elaborated on the initial pillars of her economic policy in a speech last week.
Last week, during a campaign in swing state North Carolina, Harris did not specifically mention digital assets in his speech, but swears,If elected president, she will “focus on cutting unnecessary bureaucracy and unnecessary regulatory red tape” and encourage “innovation of technology while protecting consumers and creating a stable business environment, setting consistent and transparent rules.”
Chasing cryptocurrencies
The cryptocurrency industry is angry at the heavy regulatory regime of President Biden’s administration and is seeking to demonstrate its influence this year through large amounts of political donations, among other things.
Trump said he will fire SEC Chairman Gary Gerry Gensler (who will not end until 2026), chooses industry-friendly regulators, form a presidential advisory board for the crypto industry and create a stablecoin framework.
This practice of reducing virtual currency regulatory enforcement has won Trump the support of well-known cryptocurrency enthusiasts, including billionaire twins Cameron and Taylor Vinclairvos, who run Vinclairvos CapitalManagement companies are big investors in Bitcoin.Both donated money to the pro-Trump organization.
Rohini Kosoglu, who served as Harris’ domestic policy adviser, said at a roundtable Wednesday that the candidate’s economic policy will provide businesses with economic policies compared to Trump’s second administration.More certainty.
“Businesses are concerned about the chaos that Trump’s second administration brings and what it means to not knowing the rules and ensuring they have the opportunity to grow and thrive in the economy,” she said.
Trump pointed out that if he takes office again, he will extend the imminent tax relief and impose comprehensive tariffs on U.S. allies and rivals.Critics warn that the move could exacerbate high prices and disrupt global trade.
Nelson expressed uncertainty about the scope of Trump’s tariffs on businesses.“If I were a businessman, I didn’t know how to run my business in that environment,” he said.
Policy introduction
After Biden withdrew from the campaign, Harris had to start a campaign in a short period of time, less than three months after Election Day.The Democratic candidate began rolling out her policy agenda last week, focusing on economic issues — a central issue among voters see it as the central issue of the November election and potentially one of her biggest political burdens.
The high inflation encountered by American families has exacerbated widespread dissatisfaction with the government’s handling of economic problems, undermined Harris’ campaign and covered up the efforts she and the president have made to promote infrastructure and domestic manufacturing investments.
Harris once pointed out that if she is elected, building a middle class will be the focus of her presidency, and vigorously promote various proposals such as $25,000 down payment assistance for first-time home buyers, expanded tax credits and plans to curb higher rents and food costs.Harris’ campaign saidThe cost of the new proposal will be offset by increasing taxes on businesses and high-income earners.
Harris supports raising the U.S. corporate tax rate from 21% to 28% in line with Biden’s recent budget proposal.After Trump took office, he lowered the corporate tax rate from 35% to 21%, and proposed further reductions.
Nelson defended the 28% tax rate, calling it “reasonable” and said Harris’ goal is to “ensure that businesses pay a fair share.”
