Kamala Harris’s choice as Vice President was Minnesota Governor Tim Walz. It is stated that this election may have significant effects on the cryptocurrency industry.

Walz is currently in his second term as governor of Minnesota after serving more than 12 years in Congress. Walz’s stance on cryptocurrency is known for supporting stricter regulations.

It is known that Walz does not support the classification of cryptocurrencies as a legal form of payment and advocates more regulations in this area. This indicates that the crypto industry may come under greater regulatory scrutiny.

Walz’s election could be an important development for the cryptocurrency industry because Walz is known to have taken a stricter stance on cryptocurrencies in the past.

Walz advocates for the US government to control the use of cryptocurrencies with stricter regulations, but he does not intend to completely ban the use of cryptocurrencies in cross-border payments. This could be a step towards strengthening existing regulations regarding cryptocurrencies.

Harris’s stance on crypto money is uncertain. Although Harris does not have an official statement about cryptocurrencies, her political stances are generally considered to be focused on consumer protection and financial regulations. This could mean more regulatory oversight of the cryptocurrency market.

Bitfinex analysts note that Harris’ stance on cryptocurrency is not well documented, so it is difficult to make a definitive prediction. However, it is thought that Harris’ general approach to financial regulations could support ongoing controls on the crypto market.

This statement comes two weeks after US President Joe Biden announced his withdrawal from the 2024 presidential elections. Biden’s withdrawal increased the possibility of Trump re-entering the presidential race.

Currently, it is estimated that Trump is ahead in the elections. According to Polymarket data, 53% of respondents are betting that Trump will win the 2024 election, while only 46% predict Harris will win. More than $64 million has been bet on Trump’s possible victory and more than $50 million on Harris.

The crypto industry sees Trump as a more innovative politician. After Biden’s announcement of withdrawing from the election race, Bitcoin briefly regained the level of $ 68,000. This development is considered as an example of how cryptocurrencies can be affected by policy changes.

Walz’s election could mean a significant change for the cryptocurrency industry. Tightening regulatory controls of cryptocurrencies may create new challenges for companies operating in this field. However, it is also argued that these regulations could also make the market more orderly and reliable.

Walz’s election as vice president could significantly impact the future regulatory environment of cryptocurrencies.