Schumer Backs Crypto Bill; Harris Gains Support

Senate Majority Leader Chuck Schumer has committed to passing bipartisan cryptocurrency regulation by the end of the year, emphasizing the necessity of common-sense guardrails and bipartisan support. Speaking at the Crypto4Harris town hall, Schumer highlighted Congress's responsibility to regulate crypto effectively to maintain U.S. innovation and prevent the industry from moving overseas. The event, aimed at supporting Vice President Kamala Harris's presidential campaign, featured notable figures like Mark Cuban and Sen. Kirsten Gillibrand, who echoed Schumer's sentiments. Schumer's endorsement marks a shift in the Democratic stance on crypto, contrasting with the Biden administration's previous regulatory actions. This move aligns with a broader political trend where both Democratic and Republican candidates, including Donald Trump, are increasingly courting the crypto sector. Harris's campaign, indicated by the selection of advisors with crypto ties, may suggest a more crypto-friendly approach if she is elected.