Democrats Unveil ‘Crypto for Harris’ Initiative as White House Engages with Industry Leaders

Senior White House officials recently took part in conversations with important figures in the cryptocurrency industry as part of a continuous effort to establish connections with the sector. This interaction, which was facilitated by California representative Ro Khanna, a Democrat who supports cryptocurrencies, highlights the Biden-Harris administration’s growing attention to the cryptocurrency space.

Leading figures in the cryptocurrency space, such as Vice President Kamala Harris’s senior advisor Kristine Lucius, National Economic Council Director Lael Brainard, and White House Deputy Chief of Staff Bruce Reed, held a discussion with them on Thursday. The Hill reported on this meeting using people who were aware of the conversations. The project is a component of the Biden administration’s larger endeavor to comprehend and resolve the issues raised by the bitcoin community.

This meeting followed a recent roundtable led by Khanna, which brought together Democratic lawmakers and industry executives. The roundtable featured Anita Dunn, a former senior adviser to President Biden, who has since aligned with a super PAC supporting Vice President Harris’ campaign.

A White House spokesperson, Robyn Patterson, commented on the administration’s approach: “The Biden-Harris administration will continue meeting with a range of stakeholders and working with members of Congress on legislation to develop safeguards that are necessary to harness the potential benefits and opportunities of crypto-asset innovation.”

Democrats Launch “Crypto for Harris”

In a parallel development, Democrats have launched a new initiative, “Crypto for Harris,” aimed at rallying the cryptocurrency community in support of Vice President Kamala Harris. Announced by Fox Business reporter Eleanor Terrett, this initiative seeks to counter former President Donald Trump’s growing influence in the crypto industry.

“Crypto for Harris” is composed of about 50 industry participants and policy experts, and it plans to host a virtual town hall next week. Prominent figures like Mark Cuban, Anthony Scaramucci, and several Democratic House Representatives are expected to speak at the event. The group’s primary goal is to strengthen Harris’ campaign and fundraising efforts as the November election approaches.

Paul Grewal, Chief Legal Officer of Coinbase, praised Khanna’s efforts, noting, “I applaud [Khanna] for working valiantly to keep people talking to one another and to continue to urge Democratic support for basic crypto legislation and standards.” He emphasized that the discussions marked a significant shift in how the Harris campaign might approach the crypto industry, signaling a potential break from previous policies.

As the political landscape evolves, the Biden-Harris administration’s engagement with the crypto sector and the launch of “Crypto for Harris” reflect a growing recognition of the industry’s importance.