Kamala Harris says she will support crypto: Here are 3 steps that would show she’s serious

For the first time as the Democratic nominee, Harris offered a glimpse into how her administration might approach digital assets. While her comments signal a promising proof of pivot, six weeks into her campaign, there is a growing urgency to address the concerns of pro-crypto voters. This demographic—especially the younger, politically energized, pro-crypto population—has been skeptical, if not outright alienated, by the current administration’s approach. 

What these young voters are looking for is not just clarity on bitcoin but a comprehensive legal structure for all digital assets. They are also aware that former President Trump has made significant overtures to the crypto industry, particularly by appealing to Bitcoin maximalists.

That said, Trump’s latest crypto venture—a private DeFi project aimed at accredited investors—has raised eyebrows and accusations of opportunism, leaving the door open for pro-crypto voters to make a different choice. Given how razor-thin the margins are in this election, even 10,000 voters could move key electoral college votes in swing states, making the crypto community an important constituency. 

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Harris, whose campaign is focused on freedom and opportunity, has the chance to bring balance to crypto regulation—and unprecedented progress benefiting not only the industry but the broader economy. If she chooses to capitalize on this opening, there are three messages she should embrace.

First, Harris can promise to deliver the regulatory clarity that the crypto industry has long sought in particular by putting a stop to conflicting policies from agencies like the SEC and CFTC. As someone who has spent years writing, teaching and advising this space, I understand the need for a regulatory framework that protects consumers while fostering innovation. Contrary to popular belief, regulation and innovation are not mutually exclusive.

In my testimony before the House Financial Services Subcommittee on Digital Assets, I stressed the danger of continuing the status quo. Without clear guidance, U.S.-based companies may move offshore, taking innovation and jobs with them. Harris’s call for “consistent and transparent rules of the road” is a step in the right direction. By championing frameworks like the Financial Innovation and Technology for the 21st Century Act (FIT21), she could provide the necessary clarity for the industry and position the U.S. as a leader in digital finance.

Second, Harris must pledge to put an end to SEC overreach and rebuild trust with the industry. This should include helping entrepreneurs like Caitlin Long, CEO of Custodia Bank, who have faced significant hurdles, including being denied a master account by the Federal Reserve. Such actions stifle innovation and discourage responsible actors from contributing to the ecosystem.

In my testimony, I raised concerns about the SEC’s broad powers and lack of clear guidelines. A fairer regulatory environment would allow businesses to innovate without fear of arbitrary enforcement. Although Harris cannot change laws directly, she can influence the broader policy direction her administration would pursue if elected. Indeed, some Democrats have already shifted toward more welcoming pro crypto message, setting the stage for potential bipartisan progress in 2025.

Finally, Harris can make crypto part of what she is touting as a broader  “Opportunity Economy” that prioritizes empowering small businesses, lowering costs for middle and working class families, and expanding financial access. Crypto and blockchain technology can help achieve these goals by providing DeFi-enabled services, particularly for the unbanked and underbanked, who can save, invest, and build wealth with fewer intermediaries and lower fees.

In my testimony, I emphasized the potential of digital assets to democratize financial access and empower communities historically left out of traditional finance. While Harris cannot directly change laws, by incorporating crypto innovation into her economic vision, she can create opportunities for underserved populations both in the U.S. and globally. Embracing digital assets as part of her platform would demonstrate that crypto is a tool for real-world financial inclusion, not just a niche technology.

The potential of digital assets is too significant to overlook, and Vice President Harris has already taken an important step by recognizing crypto’s role in the future economy and seems to be charting her own presidential path. The crypto community, like many others, is eager for thoughtful leadership that understands the balance between innovation and protection, and Harris is well-positioned to help guide this landscape.

Tonya M. Evans is a Penn State Dickinson Law professor and author of Digital Money Demystified, host of the Tech Intersect podcast and founder/CEO of Advantage Evans FinTech Academy & Consulting. Follow her on X @IPProfEvans and visit her website at ProfTonyaEvans.com.