California Governor Gavin Newsom had been speculated to run for the Democratic nomination, but he has endorsed Kamala Harris instead. Harris is actively working to secure the Democratic presidential nomination following Joe Biden’s withdrawal due to concerns about his mental acuity.

Although Harris has received endorsements from several prominent party members, not everyone is behind her. Former President Barack Obama has called for an open contest to find Biden’s successor, which has led some to speculate whether his wife Michelle might announce her candidacy. An Ipsos poll suggested that Michelle Obama could be the only Democrat capable of defeating Donald Trump.

A key question remains: among Democrats, who is most likely to support pro-crypto policies? If Harris secures the nomination, crypto investors and entrepreneurs might be disappointed. During her tenure as VP, Harris has not publicly discussed her views on digital assets like Bitcoin and NFTs. She also hasn’t voted on much crypto legislation, and financial disclosures confirm she isn’t a HODLer.

From this, we can deduce that it’s unlikely Harris would prioritize digital assets if elected. Her administration might continue Biden’s approach, with the Securities and Exchange Commission maintaining stringent regulations. However, Harris has close connections to tech giants in California, which could be advantageous as cryptocurrencies and blockchains grow in importance. During her Senate campaign, she received significant support from Silicon Valley entrepreneurs.

Harris’s views on privacy, a core value for many crypto investors, are also notable. When responding to a leaked Supreme Court opinion on Roe v. Wade in 2022, she emphasized the importance of privacy: “If the right to privacy is weakened, every person could face a future in which the government can potentially interfere in the personal decisions you make about your life.”

“If the right to privacy is weakened, every person could face a future in which the government can potentially interfere in the personal decisions you make about your life.” — Kamala Harris

Newsom’s endorsement of Harris might disappoint crypto enthusiasts, as he has been supportive of digital assets and blockchain technology. He has stated, “Blockchain in particular is something that I see only becoming more and more predominant in our lives.” Newsom has also signed a crypto licensing bill, mandating California to create a regulatory framework for crypto by July 1, 2025. He emphasized the importance of balancing consumer protection with fostering innovation.

Estimates from Security.org suggest that up to 40% of American adults own at least one crypto, roughly 93 million people. However, issues like inflation, the economy, and gun violence remain top concerns for both Democrats and Republicans. If chosen, Harris will likely run a campaign that shows continuity with Biden’s policies without making significant waves.

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