Stand With Crypto Alters Kamala Harris’s Rating Amid Controversy

In a surprising move, Stand With Crypto, a Coinbase-backed crypto collective, has revised the crypto-friendly rating of Democratic nominee Kamala Harris. Initially awarded a B rating for her stance on digital assets, Harris’s rating was changed to N/A following feedback from the crypto community. This decision comes as Harris has yet to officially outline her policy on digital assets, sparking debate and controversy within the community.

The Initial Rating and Its Implications

Stand With Crypto initially assigned Kamala Harris a B rating based on her recent statements supporting innovative technologies like AI and digital assets. This rating was intended to reflect her potential positive impact on the crypto industry if elected. However, the rating drew criticism from the crypto community, who argued that Harris had not provided enough clarity on her stance regarding digital assets.

The B rating was seen as premature by many, given Harris’s limited public discussion on blockchain and cryptocurrencies. Critics argued that without a clear policy, it was difficult to gauge her true position on the matter. This led to a significant backlash, prompting Stand With Crypto to reconsider their rating criteria.

Community Feedback and Rating Revision

In response to the feedback, Stand With Crypto announced a revision of their rating system. The collective stated that they would now require more detailed policy positions from candidates before assigning a rating. This change aims to ensure that the ratings more accurately reflect the candidates’ stances on digital assets and their potential impact on the industry.

The decision to change Harris’s rating to N/A was communicated through a series of posts on X (formerly Twitter). Stand With Crypto emphasized their commitment to the crypto community and their willingness to adapt based on community input. This move was intended to maintain the integrity of their rating system and ensure it remains a reliable resource for crypto enthusiasts.

The Broader Impact on the 2024 Election

The revision of Harris’s rating has broader implications for the 2024 U.S. presidential election. As the crypto industry continues to grow, the stance of political candidates on digital assets is becoming increasingly important. Candidates’ positions on blockchain technology and cryptocurrencies could influence their support among voters who are invested in the future of digital finance.

While Harris has been relatively quiet on the topic, her main opponent, Republican nominee Donald Trump, has openly embraced the crypto industry. Trump has promised to enact crypto-friendly regulations and has even launched his own crypto platform, World Liberty Financial. This stark contrast in approaches highlights the growing significance of digital assets in the political arena.