Bitrabo Editorial
Vice President Kamala Harris has chosen to accept cryptocurrency donations for her campaign by utilizing Coinbase’s Commerce platform, as revealed by Alesia Haas, the Chief Financial Officer of Coinbase, at an event in New York.
A Change in Democratic Approach to Cryptocurrency?
A spokesperson from Coinbase confirmed that Future Forward, Harris’s political action committee, has integrated with Coinbase Commerce to facilitate cryptocurrency payments. This move comes amid a potential shift in the Democratic Party’s perspective on cryptocurrency.
While the Democratic Party has historically been more cautious about cryptocurrencies compared to Republicans, recent developments suggest a change in attitude. The decision by Harris to accept crypto donations is seen as a significant step towards engaging with the crypto community.
Despite the announcement, there is some uncertainty regarding the actual implementation of accepting crypto donations by Harris, as her official fundraising website does not currently reflect this integration.
‘Unique Opportunity for Kamala Harris’
Coinbase’s Haas highlighted the changing landscape of political campaigns, pointing out an increase in political spending related to cryptocurrency. This shift is anticipated to be influenced by potential regulatory clarity in the US post the upcoming November elections.
Furthermore, Coinbase’s contributions to Fairshake, a PAC supporting pro-cryptocurrency candidates, demonstrate the growing impact of crypto-related funding in politics. Harris’s decision to embrace digital assets could potentially lead to a transformative moment in the industry.
Haas expressed optimism about Harris’s role in shaping digital asset legislation positively, emphasizing the significant opportunity she has in influencing future policies in this space.
Currently, the total market cap of digital assets is on a decline, standing at $1.93 trillion, down from $2.25 trillion at the end of August. Bitcoin, the leading digital asset, is trading at $56,300, experiencing a 3% decline in value within a 24-hour period.
Image source: DALL-E, chart from TradingView.com