As the 2024 US presidential election approaches, many in the crypto community are closely watching the potential outcomes and how they could affect the adoption of digital assets. One possible scenario is a win by Vice President Kamala Harris, whose stance on crypto regulation is seen as more restrictive.
If Harris were to win, experts believe that the pace of adoption may slow down due to a more regulated environment. The Biden administration, in which she has been serving since 2021, has shown a tendency towards strict regulations on cryptocurrencies. This could mean that institutional adoption of crypto would happen more gradually under a Harris presidency.
However, it is important to note that despite the potential regulatory challenges, many in the industry believe that institutional adoption of crypto would still continue under a Harris administration. The Democrats, including Harris herself, have been slowly warming up to the idea of digital assets. This gradual shift in their stance could eventually lead to a more supportive environment for the crypto industry, although it may take more time to see tangible results in the market.
Overall, the outcome of the 2024 US presidential election could have a significant impact on the future of crypto adoption. While a Harris win may bring about more regulatory hurdles, it is likely that the industry will continue to grow, albeit at a slower pace. On the other hand, a different outcome could lead to a more supportive environment for digital assets, accelerating their adoption and integration into the mainstream financial system.
