Charles Hoskinson says voting for Kamala Harris is a threat to the US crypto sector

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Cardano founder Charles Hoskinson has warned that a vote for Kamala Harris in the upcoming presidential election is a vote against the interests of the US crypto industry. He believes the perceived hostility of the Biden-Harris administration to cryptocurrency is intensifying, with no signs of improvement or a “reset” in their approach.

“As we have said time and time again, the Biden-Harris White House is waging a war on cryptocurrency. There seems to be no reset. In fact, it seems to be even worse now. A vote for Harris is a vote against the US Crypto industry,” Hoskinson said in a recent post on X.

Hoskinson’s statement was in response to Tyler Winklevoss’s critical remarks regarding a recent move by the Federal Reserve (Fed) against Customers Bank, the main subsidiary of Customers Bancorp and a known crypto-friendly bank.

Winklevoss said the Fed’s enforcement action against Customers Bank lacked concrete evidence to support the alleged deficiencies in risk management and anti-money laundering (AML) compliance.

He added that the 30-day advance notice requirement for new crypto banking relationships as a result of the case was a veiled attempt to increase scrutiny of the banking industry, particularly in its relationship with the crypto sector.

Winklevoss added that while Customers Bank may get Fed approval for crypto banking companies, it’s unclear whether the central bank will release the numbers to the public. According to him, if Harris wins, the number of crypto companies that are approved could be close to zero, if not zero.

“And make no mistake, this law enforcement action is the Feds playing nice with nerf guns. It’s just setting the table. Not even the appetizer. The Fed is on its best behavior right now as the election is around the corner. If Harris wins in November, the gloves will come off,” he said.

When President Joe Biden was still in the 2024 race, Winklevoss and Hoskinson warned that voting for Biden would hurt the US crypto industry.

With Biden’s torch passed to Harris, her campaign team is ramping up efforts to counter Donald Trump’s growing appeal among crypto supporters. Trump presented himself as a “pro-crypto” candidate, repeatedly expressing support for Bitcoin and the crypto industry.

Earlier this week, Democrats created a new initiative called “Crypto for Harris” to secure crypto voter support and support Harris’ campaign. A number of reports in recent weeks have also indicated that Harris’ team has reached out to crypto firms in an attempt to “reset” their relationship with the industry.

Kudos to Kennedy

In a separate statement, Hoskinson expressed his support for Robert F. Kennedy Jr., the US presidential candidate who will join him in a discussion at Rare Evo’s blockchain event next Saturday.

“Kennedy is one of the brightest and most upright candidates to run for president of my generation,” he said.

Kennedy is a vocal supporter of Bitcoin with a strong belief in its role in promoting financial freedom and transactional freedom. He previously revealed that he has about $250,000 million worth of Bitcoin invested.

In addition to his investment, Kennedy also proposed a plan for the U.S. to purchase enough Bitcoin to equal the value of the nation’s gold reserves, amounting to approximately 9.4 million BTC. He believes this would position the US as the largest holder of Bitcoin worldwide.

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