Regulation
Trump in the Spotlight as Kamala Harris Drops Out of Bitcoin Conference. Now What?
- Kamala Harris turned down an invitation to the Bitcoin Conference 2024, sparking mixed reactions.
- Scaramucci predicts that Harris’ presidency could change cryptocurrency regulation by replacing key figures.
With the Bitcoin [BTC] With the 2024 conference fast approaching, the event is attracting a lot of attention. Former President Donald Trump has confirmed his attendance, adding a high-profile dimension to the conference.
Kamala Harris Won’t Attend Bitcoin Conference
However, the Vice President My life is nice has decided to decline the invitation. This development was revealed by David BaileyCEO of Bitcoin Magazine and conference organizer.
In his July 24 post X stated:
“No surprises. What can she tell us when she is actively imprisoning developers, forcing our industry to move overseas, attacking PoW… it would have been a disaster for her. Now all eyes are on Trump.”
Despite this development, the cryptocurrency community seems largely unfazed, as Ripple CEO pointed out Author: Brad Garlinghouse who added,
“Drawing conclusions and assumptions about candidates based solely on political affiliation, without any policy proposals, is holding the cryptocurrency industry back (similar to how tribalism has done for years).”
The executives intervene…
Garlinghouse further explained how Harris, thanks to her strong ties to Silicon Valley, has the opportunity to address critical issues regarding U.S. competitiveness, including cryptocurrency regulation.
He said that while there is hope that she can bring a fresh perspective to these issues, there is concern that taking a similar critical stance to that of Sen. Elizabeth Warren could be problematic. He added,
“Then he miscalculated Gary Gensler’s political responsibility.”
This is especially relevant given the controversial stance of SEC Chairman Gary Gensler, a divisive figure in the cryptocurrency industry.
Scaramucci believes Harris would abandon Gensler
However, Anthony Scaramuccifounder and Managing Partner of SkyBridge, brought a distinctive point of view to the cryptocurrency community. He noted,
“I’m reading a lot of negative comments about @VP @KamalaHarris’ decision not to speak at the #Bitcoin conference… she’s an outspoken person on cryptocurrency.”
Scaramucci also predicted that a Harris presidency could lead to significant changes in regulatory leadership. He predicted that Gary Gensler, the current SEC chairman, and Senator Elizabeth Warren, as the Financial Services Czar, would be replaced.
According to Scaramucci, this shift would likely result in a more balanced and less confrontational stance on cryptocurrency regulation under the Harris administration.
Needless to say, he captured the sentiment best when he said:
“Let’s keep the cryptocurrency system bipartisan, it will be healthier for the ecosystem in the long run.”
Memecoin Market Impact and Forecast
However, this development has negatively affected the Kamala Harris-based memecoin KAMA, which has dropped by more than 11% in the last 24 hours, according to CoinGecko.
Furthermore, Polymarket Predictive data indicates that Harris is in second place with 33%, while Trump remains in the lead with 62%.