Coin Edition -
- Kamala Harris’ recent statement on crypto has sparked both praise and criticism.
- Jake Chervinsky says that consumer protection may be a disguise to harm the industry.
- Coinbase’s Faryar Shirzad and Paradigm’s Alexander Grieve address it as a positive development.
This is progress and progress is good……but “while protecting our consumers and investors” could mean a lot of things.
The anti-crypto army uses “consumer protection” as a smoke screen to conceal their attempts to destroy our industry.
I, for one, want to see policy details. https://t.co/Zc1aUdOYzl— Jake Chervinsky (@jchervinsky) September 22, 2024
Harris Envisions a Future for Crypto in America
Bloomberg reporter Jennifer Epstein shared updates on Harris’ recent comments regarding cryptocurrency. After staying silent on the matter for a long period, Harris asserted that she would take the initiative for the growth of the country’s crypto market. She plans to build an “opportunity economy,” uniting labor, small businesses, innovators, and other key institutions. Harris’ plans are rooted in her vision to boost U.S. competitiveness. From the tone of her statements, it seems Kamala Harris wants to create a “safe business environment” that shields consumers and investors while fostering growth in the crypto industry.Read also: Bitcoin Drops and Recovers as Harris Polls Surge Post-DebateNEWS: VP Harris says at a fundraiser on Wall St. that she "will encourage innovative technologies like AI and digital assets while protecting our consumers and investors."— Jennifer Epstein (@jeneps) September 22, 2024
Chervinsky’s Skepticism
In response to what some see as Harris’ “progress,” Chervinsky argued that “consumer protection” could be used as a pretext to undermine the crypto sector. He stated:“The anti-crypto army uses ‘consumer protection’ as a cover for efforts to dismantle our industry.”Harris’ connections to the Democratic Party, previously criticized for its anti-crypto stance, lend weight to Chervinsky’s concerns. Fellow Democrats, President Joe Biden and Senator Elizabeth Warren’s strong opposition to the crypto space heightens the debate. Yet, others view Harris’ crypto endorsement as a positive step. Coinbase’s policy chief Faryar Shirzad, acknowledging the remarks, described them as “important and constructive.” Alexander Grieve of venture firm Paradigm echoed this sentiment, emphasizing that the current administration may be the last to stifle the crypto industry. The post Kamala Harris’ Open Support for Crypto & AI, But Stirs Investor Protection Debate appeared first on Coin Edition.
This content was originally published on Coin Edition
