Senate Majority Leader Chuck Schumer scheduled to speak at Crypto4Harris town hall
Quick Take
- The New York Democrat will speak alongside crypto insiders and lawmakers starting at 8 p.m. ET, according to a person familiar with the event.
- Schumer was one of several Democrats to vote for a resolution to overturn Staff Accounting Bulletin 121, known as SAB 121, in July. The bulletin has drawn controversy over the past year due to concerns in the crypto industry that it could prevent banks from safeguarding digital assets.
U.S. Senate Majority Leader Chuck Schumer will speak at a town hall on Wednesday hosted by "Crypto4Harris," an organization looking to revamp crypto's ties to presidential candidate and current Vice President Kamala Harris.
The New York Democrat will speak alongside crypto insiders and lawmakers starting at 8 p.m. ET, according to a person familiar with the event. Politico reported the news earlier.
Crypto4Harris, which has a page on X, describes itself as a "grassroots network of crypto advocates organizing, fundraising and developing a nuanced crypto-policy approach for the Harris For President campaign." Reps. Ritchie Torres, D-N.Y., Wiley Nickel, D-N.C., Adam Schiff, D-Calif., Sen. Kirsten Gillibrand, D-N.Y. along with Crypto Council for Innovation CEO Sheila Warren, billionaire Mark Cuban and former Trump White House Communications Director and SkyBridge Capital founder Anthony Scaramucci will also be speaking at the town hall.
Schumer was one of several Democrats to vote for a resolution to overturn Staff Accounting Bulletin 121, known as SAB 121, in July. The bulletin has drawn controversy over the past year over concerns in the crypto industry that it could prevent banks from safeguarding digital assets. Schumer has also called for the Senate to pass a crypto bill, according to reporting from Politico in July.
Crypto has asserted itself into the upcoming election season with millions of dollars flooding into super political action committees and presidential candidate Donald Trump telling voters he would end an "unlawful and un-American crackdown" on the U.S. crypto industry. The former president has also made inroads with the industry by selecting crypto-friendly J.D. Vance as his running mate and promised in June to advocate for bitcoin miners.
Meanwhile, candidate Harris has begun reaching out to the crypto industry and says they want to learn more about crypto, a source who spoke with a member of her campaign team has said. Harris has not yet taken a public position on crypto.
Update: Aug. 14, 2:55 p.m. UTC to include that Sen. Gillibrand will also speak
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
