By Kanishka Singh
WASHINGTON (Reuters) – A high-profile political action committee (PAC) supporting U.S. Vice President and Democratic presidential candidate Kamala Harris, known as Future Forward PAC, will accept cryptocurrency donations, a Coinbase spokesperson said on Wednesday.
WHY IT’S IMPORTANT
Future Forward has raised hundreds of millions of dollars to support Kamala Harris in the November 5 US presidential election, in which she will face Republican presidential nominee and former President Donald Trump. Polls show a close race.
While Harris has yet to take a public stance on crypto, her campaign team has met with major crypto companies, including Coinbase and Ripple, Reuters previously reported.
Trump has tried to woo big cryptocurrency donors with friendly policy promises and criticized Democrats’ attempts to regulate the sector. Brian Nelson, a senior adviser to the Harris campaign, said at a recent event that Harris would support the growth of emerging technologies, which many in the cryptocurrency industry saw as a positive sign.
KEY QUOTE
“Coinbase can confirm that the Future Forward PAC has integrated Coinbase Commerce to accept cryptocurrency donations,” a Coinbase spokesperson said in an emailed statement. Coinbase Commerce is a tool that allows merchants around the world to accept cryptocurrency payments in a decentralized manner.
CONTEXT
Some major cryptocurrency companies are donating to pro-cryptocurrency candidates in congressional races from both parties through super PACs, campaign finance filings show, rather than aligning with either presidential candidate.
Cryptocurrency investors and industry executives who are calling for Harris to take a more lenient regulatory stance on the industry plan to raise at least $100,000 for the Democratic presidential nominee at a Sept. 13 fundraiser in Washington.
A super PAC can raise an unlimited amount of funds to support candidates, but cannot contribute directly to a campaign or political party.
(Reporting by Kanishka Singh in Washington; Editing by Christian Schmollinger)
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