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ToggleWill Harris maintain Biden's strict regulatory stance?
According to Cointelegraph , Harris is working with two former economic advisers in the Biden administration, Brian Deese and Bharat Ramamurti, who had strongly opposed the 2023 Clarity for Payment Stablecoins Act, believing that the bill would have a negative impact on the economy. The issuer is too lenient.
Alex Thorn, Galaxy’s head of research, posted on the X platform on August 13 that Harris’ selection of these economic advisers may indicate her intention to continue the Biden administration’s hostile regulatory attitude towards cryptocurrencies:
"There is new evidence that Harris will continue to crack down on cryptocurrencies. Her choice of advisers indicates that she will maintain Biden's hostility to cryptocurrencies."
Harris is preparing to unveil her plans for an economic policy agenda in a speech in mid-August, which could provide investors with more clues about her stance on cryptocurrency regulation.
Deese and Ramamurti participate in "Operation Choke Point 2.0"?
In March 2023, the US banking system was hit by the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. New York regulators subsequently forced Signature Bank to close operations on March 12, just two days after Silvergate Bank liquidated.
The sudden collapse of three cryptocurrency-friendly U.S. banks has been dubbed "Operation Choke Point 2.0" by cryptocurrency venture capitalist Nic Carter, who believes it is a "coordinated attempt" to exclude the cryptocurrency industry. outside the banking system.
Deese and Ramamurti are believed to be participants in the operation, according to Alex Thorn, who writes:
"Deese and Ramamurti are two key architects of the Biden administration's anti-encryption campaign, including Operation Choke Point 2.0."
Bharat is ‘White House’s chief cryptocurrency critic’
On the other hand, Fortune, a well-known American business magazine, has previously called Bharat the "chief cryptocurrency critic of the White House." He will serve as deputy director of the National Economic Council in the White House until October 2023. And this is another reason why Harris chose these economic advisers to bring a stricter stance to the cryptocurrency industry, Alex Thorn added:
“Ultimately, policy is made by people, and if Brian Deese, Bharat Ramamurti, Wally Adeyamo and others are responsible for economic policy in the Harris administration, the likelihood of the administration softening its stance on cryptocurrencies is very slim.”
Harris surpasses Trump in polls
According to the latest forecast results from Polymarket, Harris' probability of winning is currently 52% higher than Trump's 45%. In terms of predictions of the popular vote results of the presidential election, Harris' probability of winning is as high as 78%, while Trump's is only 22%.
