Why Kamala Harris’ Absence from Crypto Roundtable Raises Questions

The recent crypto roundtable meeting held in Washington, D.C., on August 9, 2021, was supposed to be a landmark event for the US government and the crypto industry. The meeting brought together top officials from the Treasury Department, the SEC, the CFTC, and the OCC, as well as CEOs from major crypto companies like Coinbase, Fidelity, and Square. The goal of the meeting was to discuss the regulatory challenges and opportunities of digital assets and blockchain technology, and to seek input from stakeholders on how to balance innovation and investor protection.

However, one notable absence from the roundtable was Vice President Kamala Harris, who was expected to attend but did not show up. Harris, who has been tasked by President Joe Biden to lead the administration’s efforts on expanding broadband access, promoting small business growth, and addressing the root causes of migration from Central America, has not made any public statements on crypto or blockchain since taking office in January 2021. This has led to speculation and concern among crypto enthusiasts and experts about her stance on the emerging asset class and her commitment to the Biden agenda.

Some observers argue that Harris’ absence from the crypto roundtable is a sign of her lack of interest or expertise in the field, or her reluctance to take a position that could alienate some of her supporters or donors. Others suggest that Harris may have had a scheduling conflict or a health issue that prevented her from attending the meeting, or that she may have delegated her role to another official, such as Treasury Secretary Janet Yellen or SEC Chair Gary Gensler, who both spoke at the roundtable.

However, regardless of the reasons for Harris’ absence, the fact that she did not participate in the crypto roundtable has raised some important questions about the future of crypto regulation in the US and the role of the vice president in shaping it. Some crypto advocates and investors are worried that Harris may not share Biden’s pro-innovation and pro-competition stance on crypto, which he expressed during his campaign and in his executive order on promoting competition in the American economy. They fear that Harris may be more inclined to support stricter rules and enforcement actions against crypto companies and users, or to favor a more centralized and controlled approach to digital assets.

Moreover, Harris’ absence from the crypto roundtable has highlighted the lack of clarity and consistency in the Biden administration’s crypto policy, which has been criticized by some as too vague, contradictory, or hostile to innovation. While Biden has appointed some crypto-friendly officials, such as SEC Chair Gensler, who has taught a course on blockchain at MIT and advocated for more investor protection in the crypto market, he has also expressed concerns about the use of crypto for illicit activities and the need for more oversight and regulation. This has created a mixed message that has left many crypto stakeholders uncertain about the direction and priorities of the administration.

Therefore, the absence of Kamala Harris from the crypto roundtable meeting has not only disappointed some crypto enthusiasts and investors, but also raised some legitimate concerns about the future of crypto regulation in the US and the role of the vice president in shaping it. While it is still too early to judge Harris’ stance on crypto, her silence and absence from the roundtable have sent a signal that she may not be as engaged or supportive of the industry as some would like. This could have implications for the Biden administration’s broader agenda on innovation, competitiveness, and economic growth, as well as for the global adoption and development of blockchain technology and digital assets.