Trump and Harris face off in the debate as future crypto policies remain unclear

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Crypto politics are unlikely to take center stage as Donald Trump and Kamala Harris face off in their first presidential debate on Tuesday night, despite growing demands for clarity on the candidates’ positions.

A recent Benzinga poll found that only 6% of respondents were most interested in hearing candidates discuss digital assets, with the economy, jobs and immigration being top priorities.

However, the crypto industry is pushing for more attention, with the advocacy group Chamber of Progress urging debate moderators to give voters insight into where Trump and Harris stand on crypto ahead of the November election.

Policy differences

The candidates bring significantly different crypto backgrounds to the debate stage. As president, Trump told his Treasury secretary to “go after” Bitcoin, later calling it a “scam” after he left office. However, since announcing his 2024 candidacy, Trump has shifted to a pro-crypto platform, vowing to support Bitcoin miners, oppose central bank digital currencies, create a strategic Bitcoin reserve, and impeach SEC Chairman Gary Gensler, if elected.

In contrast, Vice President Harris has remained largely silent on crypto policy throughout his campaign. Her platform emphasizes prioritizing innovation and ensuring US leadership in emerging industries, but does not explicitly mention digital and crypto assets. A campaign aide said Harris would “support policies that ensure that emerging technologies and this type of industry can continue to grow,” but offered few details.

The lack of clarity from Harris has left the crypto community scrambling for clues about her potential approach. Some industry watchers seized on reports that Democratic donors are pressuring Harris to replace Gensler at the SEC, if elected, as a possible opening for a crypto policy reset. Some rumors also suggest that Harris is considering Gensler for a seat in the US Treasury, although these claims have not been corroborated.

“I would think that would be a question for her because she’s a little bit more of a blank slate, at least as of now,” said Ashley Ebersole, general counsel at 0x and former SEC senior counsel.

He suggested that moderators could pressure Harris if he continues what some see as the Biden administration’s hostile stance toward crypto.

Even though digital assets don’t come up explicitly, crypto advocates will look to both candidates’ remarks on innovation, regulatory leadership and economic policy for information. Some analysts believe that a strong debate performance by Trump could provide a short-term boost to crypto markets given his recent pro-Bitcoin statements.

With polls showing a close race and crypto-funded PACs poised to influence key congressional contests, the industry is eager for more clarity from both campaigns. But whether tonight’s debate will shed new light on the future of American crypto politics remains to be seen.

With the debate already underway at the time of writing, so far neither candidate has explicitly mentioned crypto, with the implicit exception of statements about technology and finance.

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