Which Candidate Is Better for Web 3.0 and Blockchain – Trump or Harris

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The 2024 Presidential election of the United States is only a couple of months away.

With Joe Biden out of the race, Kamala Harris and Donald Trump from the Democratic and Republican parties, respectively, remain the top contenders for the leadership of the most powerful country in the world.

Interestingly, for the first time, the blockchain industry is a key voting bloc that could play a very important role in the emergence of the 47th President of the United States.

Usually, stakeholders in the blockchain industry, including Web 3.0 users and cryptocurrency enthusiasts, maintain a reserved stand on politics.

Ethereum co-founder Vitalik Buterik even recently sounded a note of warning against voting for candidates simply on the basis of their allegiance to decentralized technologies.

However, the stakes are higher for the upcoming elections.

The right candidate could mean the difference between a relapse into the stifling “regulation by enforcement” environment the industry currently battles under the Biden administration or a renewed approach that will drive innovation and sustain investor’s interest.

The voting significance of the blockchain/crypto community is also not lost to the Democratic and Republican parties, as contestants from either side have made moves to appeal to major industry stakeholders.

All of these underline a crucial question – “Which candidate is better for the advancement of blockchain/Web 3.0 interests in the United States?”

To get a better context, let’s look at the industry’s current state.

Pre-elections

Thirty-eight percent of workers in the United States admit to using blockchain technology in their businesses, while over 40% of American adults own cryptocurrency.

With the approval of Bitcoin ETFs earlier this year, there has been increased nationwide interest in digital assets and cryptocurrency.

However, blockchain in the United States continues to grapple with a tricky landscape.

Unclear regulatory guidelines, a perceived ‘operation choke point 2.0’ and the determined attempts of the SEC (Securities Exchange Commission) under Gary Gensler to clamp down on “unregistered securities” have seen Coinbase, Ripple and Terra Labs, among others, slammed with contentious lawsuits.

The ideal presidential candidate, among other things, would address policy change, promote fair regulations and encourage pro-blockchain development.

The Trump option

Key industry…