Kamala Harris Campaign Reaches Out to Ripple, Coinbase to Establish Pro-Business Regulatory Framework

• Kamala Harris’s presidential campaign reaches Coinbase, Circle, and Ripple to reset relations with the tech sector.
• Harris’s message to the crypto industry is “pro-business, responsible business”.
• The team has also approached pro-crypto billionaire Mark Cuban.

Advisors to Vice President Kamala Harris’s presidential campaign have been engaging with key players in the crypto sector to establish a pro-business regulatory framework for the cryptocurrency industry.

According to sources who spoke to the Financial Times ,  the outreach effort has included major companies such as crypto exchange Coinbase, stablecoin issuer Circle, and crypto payment firm Ripple Labs.

The move is seen as an attempt to reset relations with the tech sector, which has been critical of the Biden administration’s regulatory stance. Harris’s campaign is keen to send a message that Democrats are “pro-business, responsible business” and is seeking to establish a more collaborative approach to crypto regulation.

Ripple Labs CEO Brad Garlinghouse has been vocal about the need for clear regulations in the crypto space. In a recent social media post, he urged Harris to distance herself from anti-crypto critics and instead embrace innovation. 

Garlinghouse also cautioned against making assumptions about candidates based on their party affiliation, noting that Harris’s familiarity with Silicon Valley presents an opportunity for a regulatory reset.

Harris’s campaign advisors have also approached pro-crypto billionaire Mark Cuban, who has expressed optimism about the outreach effort. “I’m getting multiple questions from her camp about crypto,” Cuban said, “so I take that as a good sign.”

The outreach effort comes as the presidential election has become a major dividing line in Silicon Valley. While some tech heavyweights, such as Marc Andreessen and Ben Horowitz, have backed pro-crypto Donald Trump, others like Reid Hoffman and Sheryl Sandberg have publicly endorsed Harris.

The crypto industry is likely to play a significant role in the election, with both candidates seeking to establish themselves as champions of innovation and progress.