Kamala Harris chooses Minnesota Gov. Walz as US presidential running mate

Kamala Harris, the vice president of the United States, has revealed her running mate for the 2024 US presidential election.

Harris has reportedly chosen Minnesota Governor Tim Walz as her vice presidential pick, four unknown sources familiar with the matter reportedly told CNN.

Walz previously served for over 12 years in Congress and is currently in his second term as Minnesota governor.

Harris’s choice of running mate could have significant implications for the cryptocurrency industry, considering that Walz is known for his more stringent, regulatory-focused approach to the crypto industry.

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Harris picks Walz: What does it mean for the crypto industry?

Walz has yet to make a public statement on cryptocurrency, but he favors more stringent crypto regulations.

Walz believes that the US government should implement stricter regulations around cryptocurrency use but doesn’t support the idea of classifying crypto as a legal form of payment, according to his profile on iSideWith.

However, he doesn’t believe that the use of crypto for cross-border payments should be outright banned.

Harris’s stance on the crypto industry is also a wildcard that could invite more potential regulatory scrutiny, according to Bitfinex analysts:

“Harris’s stance on cryptocurrency isn’t well-documented, making it difficult to predict with certainty. However, Harris’s political positions suggest a focus on consumer protection and financial regulation, which might imply continued scrutiny of the crypto market.”

Harris’s choice comes two weeks after US President Joe Biden announced that he was dropping out of the 2024 presidential race.

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Odds favor Trump, despite Harris’ latest move

Despite Harris revealing her running mate, the odds continue favoring republican candidate and former United States President Donald Trump.

Over 53% of respondents are betting on Trump winning the 2024 presidential elections, while only 46% of respondents are betting on a win by Harris, according to Polymarket .

Over $64 million has been wagered on Trump’s potential victory and over $50 million on Harris, on the world’s largest prediction market.

Trump is considered a more innovation-friendly political candidate by the crypto industry. Back in July, Biden’s announcement of quitting the election race helped Bitcoin briefly recapture the $68,000 mark.

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