Kamala Picks Her Running Mate. How Will That Choice Impact Crypto?
Kamala Harris has chosen her running mate, and her pick may impact the cryptocurrency market. We investigate what that might be.
The current US Vice President and Democratic Nominee for President, Kamala Harris has chosen her running mate. That is Minnesota Governor Tim Walz who would be the Vice President if Harris wins the election.
Cryptocurrency analysts and investors are concerned about her pick, as this election has piqued interest in crypto issues and brought regulations and government oversight of the industry to the forefront of the conversation.
Tim Walz has said very little about digital currency, so analysts are having to look at his stance on related issues, like consumer protections and financial regulations. Delving into his comments and positions on these issues has shown that he is aligned with other government leaders who support strict regulations for currencies of all kinds, and that would likely extend to cryptocurrency as well.
What Would Walz as VP Mean for Crypto
The Democratic party has mostly leaned to tighter regulations for cryptocurrency, while the Republican party has tended toward lighter crypto regulations, on the whole. There are numerous exceptions on both sides, but when taken as a party, this is how the representatives have voted. Walz as Vice President would likely tip the scale even more in the direction of tighter crypto regulations, perhaps making it harder for decentralized exchanges to operate and hurting the value of cryptocurrency.
This is only speculation at this point, but that is all we have to go on at the moment. If Harris and Walz were to encourage tighter regulations, we do not know yet what those would look like and if they would be successful in protecting consumers and preventing the kinds of scams that have plagued the crypto industry.
Cryptocurrency investors are advised to be cautious about Walz as a running mate for Harris and what his selection could mean for the industry. As he enters the race, we should learn more about his stance on these issues, which could help sway voters to one way or another.
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