Kamala Harris Unveils Plans to Boost AI and Digital Assets in Presidential Bid
Kamala Harris, the current Vice President of the United States and a Democratic contender for the presidency, has pledged her support for the digital asset and artificial intelligence (AI) sectors if she secures a victory in the November election, as reported by Bloomberg.
During a recent fundraising event in New York City, Harris outlined her economic agenda to her supporters. Her vision emphasized promoting technological advancements by forming partnerships with small businesses, labor groups, and major corporations to drive the growth of AI and digital assets.
In her address, Harris stated:
“To build that opportunity economy, I will bring together labor, small business, founders, and innovators, and major companies. We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting consumers and investors.”
Harris further promised to bring regulatory clarity to these rapidly evolving industries, emphasizing the need for a stable and predictable business environment. “We will create a safe business environment with clear and consistent rules,” she asserted.
This announcement marks Harris' first public stance on digital assets since becoming the Democratic nominee. Her previous silence on this topic had sparked concerns within the industry, leaving many to question how her policies might diverge from the current Biden administration’s approach. Her lack of engagement had led some crypto enthusiasts to lean towards her Republican opponent, former President Donald Trump.
The Impact on Bitcoin Under a Harris Presidency
Analysts at VanEck have speculated that a Harris presidency might prove more favorable for Bitcoin than another Trump term. In a recent analysis, they suggested that Harris’ leadership could potentially accelerate Bitcoin adoption by addressing structural challenges. With the implementation of clearer regulations, Bitcoin might emerge stronger than other digital assets.
The VanEck report noted:
“On Bitcoin alone, however, we would argue that a Kamala Harris presidency might be even better for Bitcoin than a second term for Trump because it would, in our view, accelerate many of the structural issues that drive Bitcoin adoption in the first place.”
Nevertheless, challenges remain. Should Harris align herself with crypto skeptics like Senator Elizabeth Warren or retain Gary Gensler as the head of the Securities and Exchange Commission (SEC), the crypto industry could encounter regulatory hurdles.
In contrast, a Trump presidency is viewed by some as more crypto-friendly, given his history of promoting U.S. Bitcoin mining and introducing decentralized finance (DeFi) initiatives. A Trump administration would likely favor deregulation and implement pro-business policies, reducing regulatory constraints on this emerging sector.