Vice President’s Vision for AI and Cryptocurrency
- Kamala Harris expresses her views on AI and cryptocurrency at a fundraising event in New York City.
- She emphasizes the need for increased investment in these sectors.
- Industry expert Jake Chervinsky commends her remarks as a sign of progress.
During a recent fundraiser in New York, U.S. Vice President Kamala Harris shared her vision for advancing the fields of artificial intelligence and cryptocurrency. She pledged to catalyze investments in these crucial sectors if she were elected as the next president.
“I will collaborate with labor groups, small business founders, innovators, and large corporations to invest in America’s competitiveness and secure a prosperous future,” Harris stated. “Our aim is to promote innovative technologies like AI and digital assets while ensuring consumer and investor protection.”
Competitive Landscape in Politics
Harris’s remarks come at a time when her presidential contender, Donald Trump, has taken a strong pro-crypto stance. Recently, Trump expressed his ambition for America to become the “crypto capital of the world” and made headlines by becoming the first former U.S. president to conduct a Bitcoin transaction.
Concerns Over Biden’s Approach
The landscape for cryptocurrency has raised concerns within the industry following President Joe Biden’s announcement regarding his departure from office. Many stakeholders view the current administration as not particularly favorable to cryptocurrency.
In June, Biden vetoed a bill that aimed to reverse the SEC’s accounting standards related to cryptocurrencies. He justified this decision by stating that overturning the standards might jeopardize broader regulatory efforts focused on safeguarding investors and consumers.
Industry Reactions
Jake Chervinsky, who serves as the Chief Legal Officer at Variant, responded positively to Harris’s comments, noting through his social media that her stance represents “progress.”
“This is progress and progress is good… but ‘while protecting our consumers and investors’ could mean a lot of things. The anti-crypto faction uses ‘consumer protection’ as a pretext to undermine our industry. I, for one, want to see policy details.” https://t.co/Zc1aUdOYzl
— Jake Chervinsky (@jchervinsky) September 22, 2024
Chervinsky emphasized the need for clarity, indicating that while protection for consumers and investors is essential, motives behind such promises should be scrutinized carefully.