Ms. Harris pledged to significantly improve the regulatory environment for cryptocurrency companies in the US. However, Ms. Harris expressed unfavorable views on a number of other important issues, such as taxes, Bitcoin mining and self-management of assets, according to Alex Thorn, head of research at Galaxy. “While Mr. Trump is clearly more supportive of crypto, we remain optimistic that Harris may be more supportive than Mr. Biden.”

The upcoming US presidential election will take place between Republican candidate Donald Trump, who has expressed his ambition to turn America into the “cryptocurrency capital of the world”, and Democratic candidate Kamala Harris, who is still keep more quiet in this area. Under President Biden, the US Securities and Exchange Commission has implemented a strict regulatory policy for the cryptocurrency industry, with more than 100 regulatory actions in place. On the contrary, last July, Mr. Trump publicly announced that he would “fire” Gary Gensler, who is currently leading the SEC.

Since September, Ms. Harris has shown more interest in the cryptocurrency sector, listing blockchain technology as one of the areas in which she wants the US to maintain leadership. This could hint at a more lenient crypto regulatory stance. Galaxy commented that “behind-the-scenes conversations show that Ms. Harris is moving towards a more constructive approach than Biden.”