Kamala Harris’s choice for running mate, Tim Walz, has yet to take a clear stance on cryptocurrency, leaving uncertainty about his position on the issue. In contrast, two of her newly appointed key advisers have notable connections to the crypto industry: one has been involved in legal actions against crypto exchange Binance, while the other has worked for the company.
David Plouffe, a former top adviser to President Barack Obama, will join Harris’s team as senior adviser for strategy. Plouffe’s engagement with the crypto sector began in 2022 when he joined Binance’s Global Advisory Board to provide guidance on regulatory and policy matters. He later became a global strategic adviser for Alchemy Pay, a company focused on bridging fiat and crypto economies. Plouffe has emphasized the need for tailored regulatory approaches for cryptocurrencies.
Brian Nelson, who is leaving his position as the U.S. Treasury Department’s undersecretary for terrorism and financial intelligence to join the campaign, has been involved in significant regulatory actions against Binance. Under his tenure, the Treasury imposed $4.3 billion in penalties on Binance for violations related to anti-money laundering and sanctions laws. Despite his regulatory role, Nelson is seen as having a more nuanced view of cryptocurrency compared to some critics, having engaged with the industry and advocated for balanced regulatory approaches.
In addition to Plouffe and Nelson, the Harris campaign includes other notable figures such as Lael Brainard, former Vice Chairwoman of the Federal Reserve, who has expressed thoughtful views on crypto regulation, and Anita Dunn, who has previously represented the Biden administration’s stance on crypto.
Overall, while some advisers show a willingness to engage with and understand the crypto industry, others have historically taken a more critical stance.
