- Galaxy Digital’s scorecard rates Trump as the most crypto-friendly candidate.
- Cryptocurrency voters will play an important role in future elections.
As the 2024 U.S. presidential election approaches, Alex Thorne, Head of Corporate Research at Galaxy Digital, has published a policy scorecard on X (formerly Twitter).
The card assessed the crypto positions of presidential candidates Kamala Harris and Donald Trump. According to the analysis,
“The downside risk of a Harris victory is limited, but a Trump victory could result in an explosive upside.”
This suggests that the industry will have even more potential once the former president returns to the White House.
Trump vs. Harris: Which is better when it comes to cryptocurrencies?
AMBCrypto took a closer look at the scorecard and found that Trump performed better on seven of the nine key points highlighted.
Although Harris expressed some hope for President Joe Biden’s improved stance on cryptocurrencies, President Trump’s policies were seen as more supportive of the crypto sector.
Source:X
Trump campaign supports pro-Bitcoin [BTC] The mining policy promised that “Bitcoin will be made in America.” This was in contrast to Harris’ focus on measures to address large-scale electricity consumers.
The former has also made its opposition to CBDC clear and remains committed to ending restrictive banking practices like Operation Chokepoint 2.0.
Meanwhile, Harris has shown some openness to easing Operation Chokepoint 2.0, but expressed concern that she intends to roll back Trump-era tax cuts that could lead to tighter regulation of digital assets.
Additionally, the vice president made no specific commitment regarding self-custody. At the same time, President Trump promised to protect self-custody rights.
Regarding these policy changes, Mr. Thorne pointed out that:
“No matter the outcome, Bitcoin should do well. Altcoins face Harris risks and could outperform Trump.”
Therefore, elections will be crucial in determining the fate of altcoins.
Evolving stance: from skepticism to support
Interestingly, both Mr. Trump and Ms. Harris have indicated that their positions on digital assets are changing. in 2021 interview President Trump called cryptocurrencies “a disaster yet to come” on Fox Business.
But he rebranded himself as a crypto advocate for Nashville Bitcoin conference 2024.
Similarly, after months of tiptoeing around the subject, Harris said the following: shift Towards supporting cryptocurrency innovation.
The impact of cryptocurrencies on the 2024 elections
This change in candidates’ stance on cryptocurrencies reflects the growing importance of digital assets in US politics. as noticed According to AMBCrypto, almost 50% of US voters believe that pro-crypto stances will be an important factor in the upcoming election.
Cryptocurrency voters are becoming a key demographic as millions of Americans own digital assets.
The outcome of the election could therefore have a lasting impact, as the policy positions of both candidates will have a significant impact on the digital economy.
