Ex Facebook Exec Highlights Harris’s Changing Crypto Stance

Former Facebook executive Chris Kelly has highlighted Kamala Harris’s emerging position on cryptocurrency regulation during a CNBC Squawk Box interview.

He suggested a potential policy shift under the Harris administration. Kelly, now involved with Crypto for Harris, emphasized the candidate’s intention to maintain American leadership in blockchain innovation.

“There’s always been a solid base of pro-business moderates who just want to make sure we’re doing fantastic things for the economy and I think that’s where Kamala Harris has ended up leading the pack,” says Chris Kelly, who is now involved with Crypto for Harris. pic.twitter.com/5Z6G5xfRrF

— Squawk Box (@SquawkCNBC) October 30, 2024

Harris enjoys growing support

Kelly, who previously served as Facebook’s general counsel and chief privacy officer, pointed to growing support for Harris among moderate tech leaders, including notable shifts from prominent venture capitalists.

The discussion highlighted potential changes to the current “regulation by enforcement” approach criticized by many in the cryptocurrency industry.

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According to Kelly, Harris has indicated support for blockchain innovation and American leadership in the sector, marking a departure from current regulatory approaches.

This stance has reportedly attracted attention from Silicon Valley leaders, including figures who previously aligned with different political positions.

The former Facebook executive specifically criticized SEC Chair Gary Gensler’s current regulatory approach, describing “regulation by enforcement” as a failed strategy.

He suggested that Harris’s administration might pursue a different regulatory framework for cryptocurrency and blockchain technology.

Kelly also addressed broader tech industry concerns, noting that moderate Democrats have expressed the need for changes in regulatory approach. He referenced discussions with prominent tech figures, including Mark Cuban, regarding potential policy adjustments.

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The interview shows growing attention to cryptocurrency policy positions among presidential candidates, particularly as the industry seeks clearer regulatory frameworks. Kelly’s comments suggest possible shifts in regulatory leadership under a Harris administration.

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