A recent exchange on X between entrepreneur Mark Cuban and a crypto enthusiast has make clear Vice President Kamala Harris’s evolving stance on cryptocurrency, particularly Bitcoin (CRYPTO: BTC), in light of the November election.
What Happened: Cuban, responding to a suggestion that Harris should transfer the U.S. government’s 200,000 bitcoin to the treasury, provided insights into his discussions with Harris’s team about crypto policy.
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He identified that the treasury is legally obligated to get rid of confiscated assets, including the 69,000 Bitcoin currently in its possession, in a fashion that advantages taxpayers.
“I used to be pushing for all confiscations in crypto to be held and never sold,” Cuban revealed, adding that he advised the team in regards to the potential market impact of selling large amounts of Bitcoin quickly. He noted that the treasury “can’t sell in a way that may move the market” because of legal constraints.
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Cuban highlighted Harris’s recent statements about protecting digital asset holders, suggesting a major shift in her understanding of the crypto ecosystem. “In the event you saw what she said today about protecting individuals who hold digital assets, it’s really clear they now get it. And it’s not nearly btc and favoring the maxis,” he wrote.
Importantly, Cuban emphasized Harris’s recognition of the “app economy” and its relevance to younger generations. “She understands completely, and it really resonates along with her that there are plenty of people who find themselves within the ‘app economy’. They don’t open bank accounts. They use apps like Robinhood and Coinbase etc, and it’s easier to know learn how to buy crypto,” Cuban explained.
He further noted that Harris is aware that many Gen Z individuals, particularly men, have a significant slice of their net price in crypto. In response to Cuban, Harris has pledged to “do what she will to guard them as consumers and as owners.”
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Dogecoin co-creator Billy Markus popularly generally known as Shibetoshi Nakamoto also responded to his tag on the Cuban post. He believes that cryptocurrency is beyond the understanding of many lawmakers and it “messes with the present laws.”
Why It Matters: Cuban’s defense of Harris’s cryptocurrency knowledge comes amid her unveiling of a latest regulatory framework geared toward supporting digital assets. As a part of her “Opportunity Agenda for Black Men,” Harris’s proposal acknowledges the growing importance of cryptocurrencies amongst Black Americans, with over 20% reportedly owning or having owned crypto assets, based on her team.
In one other statement, Cuban defended Harris and emphasized her real approach in comparison with other political figures. He noted, “She doesn’t know every part. Unlike your guy [Trump], she doesn’t pretend. She understands the connection cryptocurrency has to young people.”
What’s Next: The Benzinga Way forward for Digital Assets event on Nov. 19. will explore the query of digital asset regulations and the influence of Bitcoin as an institutional asset class.
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This text Mark Cuban Dismisses Dogecoin Founder’s Concerns: Kamala Harris Is ‘Night And Day Away From Biden And Far Ahead Of Trump’ On Crypto Understanding originally appeared on Benzinga.com