United

Donald Trump

Chair

Galaxy

United States presidential candidate Kamala Harris is more supportive of cryptocurrency than her current boss, President Joe Biden, but is still not as pro-crypto as her rival, Donald Trump, according to an October 14 analysis by Galaxy Research.
Harris has promised to improve the regulatory environment for U.S. crypto firms, but she holds less favorable positions on key issues such as taxes, Bitcoin mining, and self-custody. Galaxy Research head Alex Thorn commented on the X platform, “While Trump is undoubtedly more favorable for the industry, we’re optimistic that Harris could be more supportive than Biden has been.”
In the upcoming presidential election, Trump, the Republican nominee, has positioned himself as a strong advocate for the crypto industry, promising to make the U.S. “the crypto capital of the world.” Meanwhile, Harris, the Democratic nominee, has been relatively quiet on the subject, though she has recently shown more interest in blockchain technology.
Under Biden’s administration, the U.S. Securities and Exchange Commission (SEC) has taken an aggressive approach toward the crypto industry, launching over 100 regulatory actions against firms. Trump, in contrast, has promised to “fire” SEC Chair Gary Gensler if elected.
In September, Harris began highlighting blockchain as one of the emerging technologies she wants the U.S. to lead in, which could indicate a more constructive regulatory approach. Galaxy noted, “behind the scenes conversations […] suggest Harris is targeting a slightly more constructive approach” compared to Biden’s administration.
The recent resignation of Gurbir Grewal, the SEC’s head of enforcement, on October 2 could signal a shift in the regulatory stance.
However, Harris remains “extremely hostile” toward the industry regarding taxes, with plans to roll back Trump’s tax cuts, which could result in higher capital gains taxes for crypto holders. Meanwhile, Trump supports Bitcoin mining and has expressed a desire for more Bitcoin to be “made in America.” He has also pledged to “protect the right of self-custody,” allowing individuals to hold their crypto assets in personal wallets rather than third-party custodians.
Harris has not shown similar support for Bitcoin mining or self-custody, and both candidates maintain a strong stance on imposing financial sanctions against foreign adversaries on crypto transactions, which may limit their backing of decentralized finance (DeFi) protocols that avoid Know Your Customer (KYC) or Anti-Money Laundering (AML) regulations.

Research Reveals Kamala Harris Still Lags Behind Donald Trump in Support of Crypto

Crypto Intelligence

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