- Kamala Harris makes her first public comment on crypto assets on September 22.
- Stand With Crypto group initially raises her rating among U.S. politicians.
- The decision receives criticism, leading the organization to revert the changes.
- Stand With Crypto, initiated by Coinbase, focuses on U.S. crypto asset legislation.
- The group rates politicians from F (negative) to A (positive) based on their stance on cryptocurrencies.
Stand With Crypto Retracts Kamala Harris’s Crypto Support Badge
On September 22, Kamala Harris made her first public comment on crypto assets, sparking significant discussions within the crypto community. Following her statement, the human rights group Stand With Crypto raised her rating among American politicians. However, the decision was met with criticism, prompting the organization to retract the changes.
Community-Driven Decision
Stand With Crypto removed the indication that Vice President Kamala Harris supports crypto assets, responding to feedback from the community. The organization acknowledged the community’s input, stating, “We were built for the crypto community, and we hear you. SWC has updated our scorecard and now requires additional clarity from candidates up and down the ballot to qualify for a letter grade.”
About Stand With Crypto
Launched by the cryptocurrency exchange Coinbase in August 2023, the Stand With Crypto Alliance aims to influence legislative processes in the U.S. crypto asset sector. This coalition includes activists, lawyers, and representatives from crypto companies. The official website of the project lists politicians who support cryptocurrencies, with ratings ranging from F (highly negative) to A (highly positive).
Notable politicians with high scores include Congressman Tom Emmer, who has criticized Gary Gensler, Senator Cynthia Lummis, and presidential candidate Donald Trump.
Kamala Harris’s Rating
Previously, Kamala Harris made her first official statement regarding crypto assets during a meeting with donors, where she pledged support for innovative sectors, including crypto. As a result, Stand With Crypto initially raised her rating to B (somewhat supportive).
However, this move drew criticism from the community. One commentator remarked, “Kamala Harris made one neutral comment about cryptocurrencies, yet she received a B rating. This seems unjustified. The Biden-Harris administration has been openly hostile to cryptocurrencies for years, and she has not included any crypto policy in her platform.”
Following numerous similar comments, the organization removed the B rating from Harris’s card. Currently, the website indicates that there is insufficient data to rate her stance on crypto assets.
Implications and Insights
The initial elevation and subsequent retraction of Kamala Harris’s rating by Stand With Crypto highlight the sensitive and evolving nature of political support within the crypto community. The incident underscores the importance of clear and consistent stances from politicians regarding crypto policies. As the crypto sector continues to grow and influence economic landscapes, the need for transparent and supportive legislative frameworks becomes increasingly critical.
Ultimately, this episode serves as a reminder of the dynamic interplay between political actions and community reactions in shaping the future of cryptocurrency regulation in the United States.
