Potential Harris VP picks have clear winner for Bitcoin between Shapiro and Walz

Vice President Kamala Harris is about to announce her running mate for the 2024 presidential election, with Pennsylvania Governor Josh Shapiro and Minnesota Governor Tim Walz emerging as the front-runners.

According to the latest data, crypto prediction market Polymarket has Shapiro ahead by 7%, with $119 million wagered as of press time.

Harris’s decision is expected to be finalized this week, coinciding with the start of her campaign tour across seven critical battleground states. Both Shapiro and Walz bring distinct political profiles to the table, each reflecting different priorities and approaches to crypto.

While neither candidate’s crypto position is listed on the Stand With Crypto database, Shapiro has demonstrated a supportive stance towards the Bitcoin mining industry, evidenced by substantial financial backing. Stronghold Digital Mining, a company involved in Bitcoin mining, received over $29 million in tax credits from the state over the last two years. This financial support illustrates Shapiro’s favorable position in the Bitcoin mining sector.

However, this support has not been without controversy. Stronghold Digital Mining, which operates the Panther Creek Electric Generating Facility, has faced lawsuits from environmental groups for alleged pollution. The facility has also been cited for numerous air quality violations, raising concerns among local residents and environmental advocates. Despite these issues, Shapiro’s administration backs the industry, showing resolve in backing Bitcoin.

In contrast, Governor Tim Walz of Minnesota has taken a more regulatory-focused approach to cryptocurrencies. Walz advocates for stricter regulations to ensure the financial system’s security and stability and protect consumers from potential fraud and abuse in the crypto market. His stance emphasizes the need for government oversight to maintain economic stability and ensure market transparency. Walz’s approach reflects a cautious and protective stance towards digital assets, prioritizing consumer protection and regulatory oversight over industry support.

Parts of the Democrat Party have been adversarial toward crypto. However, Shapiro has taken a notably different stance on digital assets than this group, including Senator Elizabeth Warren and SEC Chair Gary Gensler. Along with his support for Bitcoin mining, Shapiro’s regulatory changes in Pennsylvania have not aligned with the stringent anti-money laundering and…