In a shocking move that confirms the growing acceptance of digital currencies in the political affairs of the United States, Vice President Kamala Harris will start receiving crypto donations for her campaign.
This announcement was made by the Chief Financial Officer of Coinbase ‘Alesia Haas,’ one of the world’s biggest cryptocurrency exchanges, during a recent press briefing.
She revealed that the Democratic presidential nominee, Kamala Harris, has begun to accept crypto donations through Coinbase Commerce.
This statement backs the ongoing claims that predict a potential shift in the Democratic Party’s approach to cryptocurrencies for the first time.
The decision to accept crypto is part of Harris’s campaign strategy to modernize campaign financing and appeal to a younger audience.
The announcement was noteworthy because Kamala Harris is yet to take a stand on Crypto. However, this will cause a huge change in the crypto world.
We could be looking at the first crypto election in the United States of America.
Presidential Candidate Focuses on Financial Regulation
Alesia Haas said on Wednesday,
She has a huge opportunity. We’re cautiously optimistic. She has not rolled out the details yet, but she has made overtures that she would like to drive crypto legislation.
Harris is yet to take a stance on crypto, but her campaign staff have met with top crypto firms, including Coinbase and Ripple, to discuss.
Her statements and policies have focused more on financial regulation, consumer protection and innovation in technology. She has yet to mention cryptocurrencies publicly in any of her campaigns.
The Biden administration, the Treasury Department and some other regulatory agencies took steps to establish a regulatory framework for digital assets.
They revealed the need to protect investors, avoid illegal use of these currencies and ensure financial stability.
This becomes a bit of a challenge for Trump, who has been attempting to bring big crypto donors to his camp with friendly policy pledges and has slammed Democrats’ attempts to regulate the sector.
A senior adviser for the Harris campaign, Brian Nelson, confirmed at a recent event that Harris would support the growth of emerging technologies, which many in the crypto industry saw as a positive sign.
FEC Permits PAC to Accept Cryptocurrency Donations
It appears Alesia Haas might have exaggerated when she stated that Kamala Harris is now accepting crypto donations.
Future Forward PAC, not Kamala Harris, will accept cryptocurrency donations, a Coinbase spokesperson said on Wednesday.
The Federal Election Commission (FEC) has permitted PAC to accept cryptocurrency donations, provided they adhere to the same transparent standards for traditional donations.
Coinbase will play a major role in ensuring PAC stay within the regulations by offering a secure method for handling and converting crypto donations.
Future Forward PAC is backing U.S.Vice President and Democratic presidential candidate Kamala Harris and has raised hundreds of millions of dollars in the US election in which she faces Republican presidential candidate and former President Donald Trump on Nov. 5
Currently, the polls show a tight race with Trump holding a 53% of winning compared to Kamala’s 47%
