KEY POINTS
- The economic plan mentioned digital assets as among the US 'industries of the future'
- Also on Wednesday, Harris said in a speech that the US should remain 'dominant' in blockchain
- Many crypto users took to X to share their displeasure with the playbook's scant details on digital assets
- Some crypto advocates insisted that Harris has made progress in her views about the industry
Vice President Kamala Harris and Minnesota Gov. Tim Walz have released the outline of how they will boost the economy should they win the November elections, and notably, the economic playbook mentions digital assets.
The 80-page plan published Wednesday on the Democratic presidential nominee's campaign website provides an in-depth look at the duo's vision for the U.S. economy, including their plans for manufacturing, taxes, and the cryptocurrency industry, albeit on a less-detailed scale.
A Plan Designed to Keep US Edge In 'Industries of the Future'
The Harris-Walz economic playbook is titled A New Way Forward for the Middle Class: A Plan to Lower Costs and Create and Opportunity Economy." Somewhere in the middle, the Democratic duo outlined how they will "sharpen America's edge in sectors that are critical for our economic and national security."
The presidential and vice-presidential candidates floated an "America Forward strategy" that should trigger a new era in American industry by encouraging growth in manufacturing and deploying new technologies.
The said strategy will focus not just on "clean iron and steel" but also on "emerging technologies" that they believe are essential to maintain a future where the United States remains competitive in the global technological space.
"Their strategy includes both investing in emerging technologies and modernizing traditional industries. It will also encourage innovative technologies like AI and digital assets while protecting our consumers and investors," the playbook noted.
Digital assets were mentioned once throughout the plan, and there were no further details about how exactly Harris and Walz are planning to encourage crypto technology. There were also no specific details about the extent of investments a Harris-Walz administration will pour into the emerging industry.
Backing First Ever Statements on Crypto?
The economic playbook's mention of digital assets is very much the same as Kamala's comments when she publicly spoke about crypto for the first time during a fundraiser in Manhattan a few days back.
She promised to encourage innovative technologies, including digital assets while ensuring consumer protection. She also said she will unite key players and huge investors to "invest in America's competitiveness, to invest in America's future."
Her comments then drew mixed reactions from cryptocurrency users.
Crypto Community Demands More Details
On The Chain podcast co-founder Chip commented on the economic plan, saying Harris and Walz should be more specific on how they will actually "encourage" innovative technologies. He said Kamala's statements then and now were "definitely something [U.S. Securities and Exchange Commission Chair Gary] Gensler would say."
More of the same.
— Chip – onthechain.io (@stephenchip) September 25, 2024
"… 𝗲𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀 𝗹𝗶𝗸𝗲 𝗔𝗹 𝗮𝗻𝗱 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗮𝘀𝘀𝗲𝘁𝘀 ."
Encourage innovative tech like?
Why encourage? What does that mean?
The second half of that statement perfectly aligns with letting…
Ripple Payments software engineer Neil Hartner had similar thoughts, saying the use of digital assets on the Harris-Walz economic plan were "sufficiently ambiguous."
Sufficiently ambiguous use of the term digital assets to mean literally anything that isn't physical property.
— Neil Hartner (@illneil) September 25, 2024
Multiple other crypto users and enthusiasts shared the same sentiments regarding the lack of clarity in the Democratic frontrunners' plan for the digital assets space.
Very evasive and a bit incomplete on the subject leaving to vagueness which is the modus-operandi of the current administration 🤔🤔
— Dr Manhattan X589 #VoteDeatonForSenate (@jkilanga) September 26, 2024
lol sounds like a very comprehensive plan for "digital assets"🤣
— NiftEguy.eth ⭕️🧑🚀 (@NiftEarts) September 26, 2024
Others Give Harris a Chance
On the other hand, other crypto advocates believe Harris has made progress in her positions toward emerging technologies. Prominent analyst Adam Cochran noted how, on Wednesday, Harris mentioned "blockchain" in the list of innovative technologies that she believes the U.S. should remain "dominant" in.
From Harris’ latest speech today she says that the US should become “Dominant in Blockchain”
— Adam Cochran (adamscochran.eth) (@adamscochran) September 25, 2024
I’m sure the “silence isn’t enough” “digital assets isn’t enough” crowd will move the goal post again.
But: progress!
pic.twitter.com/kTEKqFOqMf
Kristin Smith, CEO of the Blockchain Association, said the mention of digital assets in the Harris-Walz economic plan is "an encouraging step forward."
It remains to be seen whether Harris or Walz will soon talk in more detail about their plans for blockchain, digital assets, and more specifically, crypto, but with less than two months left before the elections, most crypto voters are asking for a clear and targeted stance.
