Although not directly, the recent confirmation that cryptocurrency donations can be made indirectly is significant. Kamala Harris is likely to be the new president of the United States, and many polls confirm this. Moreover, Harris’s candidacy in place of Biden has increased the Democrats’ motivation, raising voter turnout by nearly 20%. Therefore, Kamala’s statements on cryptocurrency are of critical importance.
Kamala Harris and Cryptocurrency
We shared the statement from Coinbase’s CFO as breaking news yesterday. The Coinbase official, who announced that cryptocurrency donations for Kamala Harris had started with Coinbase Commerce, was partially contradicted today. Contrary to the finance director’s statement, Harris’s campaign spokesperson clarified that while cryptocurrency donations can currently be made through the Future Forward political action committee (PAC), direct donations are not possible.
Indeed, we mentioned yesterday that there is no cryptocurrency donation option on the website for Harris’s campaign, similar to Trump’s. Future Forward raised $150 million for Biden in previous elections. Political action committees are one of the most important agendas of the election, and cryptocurrencies have made a significant impact on PACs.
How Will It Affect Bitcoin Prices?
The latest development is not positive for cryptocurrencies. Despite the upcoming elections, Harris does not take a clear stance on cryptocurrencies. Despite some campaign team members hinting at a “fresh start,” we have not seen any concrete steps indicating a change in attitude towards cryptocurrencies.
All these factors raise concerns that the potential new president may continue to exert pressure on cryptocurrencies, similar to the Biden administration.
