While speaking at the Economic Club of Pittsburg, Kamala Harris said that the US government will work on boosting developments in emerging technologies like digital assets and AI.
Kamala Harris, the US Presidential Candidate from the Democratic Party, said in her recent speech that she would want the United States to maintain dominance in the blockchain technology and artificial intelligence (AI) space.
While speaking at The Economic Club of Pittsburg, Harris said:
“We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain and other emerging technologies, [and] expand our lead in clean energy innovation and manufacturing.”
Recently, Kamala Harris has been making new promises for the crypto space. This is the second time in a week that she has spoken to take crypto innovation ahead. Harris pledged to establish a stable business environment with clear regulations, while also reducing “unnecessary bureaucracy”. She emphasized that her administration would prioritize investments in clean energy, semiconductors, and other key industries.
However, many crypto market analysts believe that Kamala Harris won’t walk the talk when it comes to supporting digital assets. In the 80-page economic plan from Kamala Harris and Tim Walz, the term digital assets has been mentioned only once.
🚨NEW: 80 pages outlining @KamalaHarris/@Tim_Walz economic plan.
Digital assets mentioned once in page 56 alongside AI — the same statement she gave over the weekend at the Wall Street fundraiser.
Full document here: 👇🏼https://t.co/KILj6a028K pic.twitter.com/GcKypFIvfC
— Eleanor Terrett (@EleanorTerrett) September 25, 2024
Furthermore, in her recent speech, Kamala Harris also emphasized the importance of the US maintaining a lead over its rival countries when it comes to new technologies. She added the US leads “the world in the industries of the future and [makes] sure America, not China, wins the competition for the 21st century”.
How Will Kamala Harris Win Impact Bitcoin and Crypto?
Speaking to Fox Business, Congressman Ro Khanna stated that he was encouraged by Kamala Harris’ recent statement expressing support for fostering innovative technologies, including AI and digital assets. He said:
“Look, you can’t be against Bitcoin or crypto. It’s like saying I’m against the iPhone or I’m against the laptop. It’s just a technology. Yes, we need smart regulation, but it’s a modern store of value in a modern payment system. It’s a modern version of gold for a lot of young people.”
In a research note last week, VanEck analysts said that the outcome of the US elections would be a mixed bag for crypto.
“[W]e think that while Kamala Harris and Donald Trump are bullish for Bitcoin, each presents more nuanced implications for the broader digital asset markets,” the analysts wrote earlier this week. “Both administrations will likely maintain fiscal spending if not further accelerate, which could lead to further quantitative easing – especially if exacerbated by anti-business policies.”
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