Crypto Assets Monetary Policy Controversy: Harris and Trump's Struggle

The U.S. political scene has recently sparked intense debates surrounding monetary policy for Crypto Assets. The Democratic Party held an online town hall meeting aimed at garnering support from coin holders. However, Kamala Harris, who was supposed to attend in person, unexpectedly missed it, leading to dissatisfaction and questions from the audience.

Nevertheless, with the holding of the event, the possibility of Harris becoming the next President of the United States is still rising. Data shows that before the event was scheduled, Harris's winning probability was about 40%; after the event announcement, her winning probability was equal to Trump for the first time; after the event was held, Harris's winning probability further rose to 53%, while Trump was at 44%.

At the same time, the price of the Harris concept coin KAMA has been continuously rising. As of now, the price of KAMA has reached $0.0131, an increase of nearly 47% from the low on August 4. In contrast, the Trump concept coin MAGA has fallen more than 60% from its high a month ago.

Before Biden clearly indicated he would withdraw from the race, Harris, as Biden's campaign partner, did not attract much attention. Trump initially did not pay much attention to this competitor. However, now, the situation seems to have changed, and the support for Harris is steadily increasing. So, will Harris really be elected? If she becomes the President of the United States, what impact will it have on the Crypto Assets market? And how can Trump turn the situation around?

Harris's Attitude Towards Crypto Assets

Unlike Trump's hostile attitude towards Crypto Assets during his presidency, Harris seems to have maintained a cold and conservative stance towards this emerging field. She has never given enough attention to Crypto Assets, and is even seen by outsiders as "not very interested."

First of all, Harris, as the Vice President of the United States, mainly focuses on more traditional macro areas, such as economic recovery, response to the COVID-19 pandemic, environmental issues, and racial equality. From her financial disclosures, it appears that Harris and her husband prefer to invest in stable, traditional assets, such as U.S. Treasury bonds and emerging market stocks. This investment portfolio reflects Harris's particular caution when selecting emerging technologies and financial instruments, as she seems more willing to maintain a certain distance from high-risk Crypto Assets.

Secondly, although Harris has served as a senator and attorney general in California and has had contact with the tech giants of Silicon Valley, this has not translated into her public support or participation in Crypto Assets. Even as Crypto Assets have gained increasing attention in Silicon Valley and the broader tech industry, Harris has not expressed clear views on monetary policy regarding Crypto Assets during her time in office, nor has she actively participated in relevant legislative or regulatory discussions in Congress or other public venues. This silence further indicates her cautious attitude in this field.

Furthermore, even during her time as Vice President, Harris's stance on Crypto Assets has not shown any significant change. She has neither participated in nor promoted any important policies related to Crypto Assets, nor has she made any official statements supporting or opposing Crypto Assets. In stark contrast to her active involvement in areas such as the environment, education, and healthcare, Harris's "absence" in the Crypto Assets field is particularly notable.

Overall, prior to the "official" campaign for the next President of the United States, Harris's attitude towards Crypto Assets can be described as quite "indifferent", which may stem from her caution regarding the risks and uncertainties in this field. Despite having some connections to the tech industry, her investment and policy choices clearly lean more towards safety and stability. In contrast to Trump, who comes from a business background and is willing to take risks, Harris undoubtedly appears to be more conservative.

Harris's Change of Attitude?

To win the election, Harris seems to be making some changes. Her campaign team recently recruited two advisors with a background in Crypto Assets: David Plouffe and Gene Sperling. Plouffe was the campaign manager and senior advisor for former U.S. President Obama, and after leaving the White House in 2013, he actively engaged in the Crypto Assets field, serving as a global strategic advisor for a certain trading platform's global advisory board and a certain payment company's global strategy. The other member joining Harris's team, Sperling, has served on the board of a certain Crypto Assets company and has also held important economic advisory roles in the Clinton and Obama administrations.

These actions seemingly indicate Harris's emphasis on Crypto Assets, as she is working to establish connections with the encryption industry. The addition of two advisors may also provide her with some support and assistance in winning the election and formulating monetary policy regarding Crypto Assets. However, do these "surface efforts" truly reflect a change in her attitude? The answer seems to be negative.

Previously, there were rumors that Harris would attend the Bitcoin conference at the end of July and speak. It is well known that Trump, even after being shot, loudly announced that he would attend this conference and indeed expressed that he would formulate a series of crypto-friendly policies at the meeting. The crypto market was very much looking forward to how the two candidates would debate at the conference. However, the result was disappointing, as Harris ultimately did not attend.

Of course, considering that Harris has just been nominated as a presidential candidate and is busy with many matters, it may be understandable that she could not attend the conference. However, her subsequent absence from a virtual roundtable organized by California Democratic congress members raised widespread doubts within the Crypto Assets industry. During the meeting, several well-known representatives from the Crypto Assets industry engaged in dialogue with Democratic officials. As a representative of the Democratic Party, Harris should have attended the meeting. Therefore, a co-founder of a trading platform publicly questioned the reasons for Harris's absence from the meeting to express his dissatisfaction.

Perhaps influenced by these factors, the dialogue between crypto representatives and Democratic representatives during the roundtable meeting was not smooth. Industry executives failed to reach a consensus with the Democrats and instead issued harsh criticisms against government officials. Major donors expressed strong dissatisfaction with the government's hollow promises. This tension highlights the differences in policy positions between the crypto industry and the Democratic government, and further deepens the crypto industry's doubts about Harris: does she really value Crypto Assets?

Policy Expectations After Harris's Election

Today, Harris has once again missed an important event related to Crypto Assets, which has left everyone very disappointed. However, her approval ratings continue to rise steadily. As a member of the Crypto Assets industry, we have to think: if Harris wins the election, what impact will that have on the Crypto Assets market?

The Biden administration has implemented stricter regulations and tax transparency measures in the crypto assets market. Although these measures have reduced market uncertainty to some extent, they have also raised concerns and opposition within the crypto community. As a Democratic candidate, Harris may find it difficult to break this established framework in terms of policy.

The chief investment officer of an investment company once pointed out that although Trump's election may be more favorable for the Crypto Assets market, Harris's victory will not be as bad as some people are worried about. He also mentioned that heavyweight figures within the Democratic Party have recently supported some legislation favorable to Crypto Assets, indicating that the attitude towards Crypto Assets within the Democratic Party is changing.

However, are these changes enough? The research director of a certain research institution pointed out that since Harris chose two officials from the Biden administration who oppose Crypto Assets to join her team, she may continue Biden's hostile policies.

It is important to know that Trump has clearly proposed a plan to use Bitcoin as a strategic reserve and is even considering using Bitcoin to address the U.S. dollar debt issue. These bold statements are currently unmatched by the Democratic Party. Considering Harris's past actions and the long-standing harsh policies of the Democratic Party, it is hard to believe that she would propose a looser policy. Therefore, there is deep concern about the performance of the Crypto Assets market under Harris's presidency in the future.

Trump's Advantages

Trump's advantage lies in his consistent encryption-friendly stance. From releasing multiple series of NFTs, to hosting dinners for NFT rights, to courageously attending the Bitcoin conference at the risk of his life, compared to Biden's hurried launch of his own token to win over the Crypto Assets community when he was far behind, and Harris's recruitment of a crypto team and holding meetings, these seemingly glamorous moves, Trump's performance is undoubtedly more "genuine".

From the perspective of the encryption market, whether it is the relatively loose monetary policy during Trump's presidency or the recent token craze related to Trump, the encryption market obviously leans more towards him.

In addition, Trump recently held an online event with leaders in the Crypto Assets space on social media platforms. Although the entire conversation did not mention Bitcoin or Crypto Assets, Trump's proactive engagement has undoubtedly generated a wave of goodwill in the crypto community. This positive action indicates that Trump seems to be trying to solidify his support in the crypto community and demonstrate interest and an open attitude towards the field.

Although we can criticize that his measures and statements may just be a "pie in the sky" to win votes, compared to the long-standing harsh policies of the Democratic Party, the crypto market is clearly more willing to accept Trump's "big pie". After all, every time a political event related to Trump occurs, it brings a significant surge to the crypto assets market. In the face of visible benefits, perhaps we do not need to overly expect the unattainable and illusory Harris policy.

Conclusion

Overall, Harris's attitude towards Crypto Assets seems to be still exploring. Although she has recently taken some measures to try to get closer to the crypto community, her actions and statements seem to always contradict each other, and her position remains unclear. Personally, it is difficult to have enough confidence in Harris at this stage compared to Trump. For the crypto market, whether Harris's leadership can truly bring positive effects still needs time to verify. As the election campaign progresses, it might be worth keeping an eye on her movements in this field, as clearer signals may emerge.