Unpacking Tim Walz’s crypto position as he joins Kamala Harris as VP

• Harris’ VP pick sparked crypto community concerns, as Walz has remained vague on digital asset policies.
• Despite this, the KAMA memecoin surged, and Harris’ election predictions strengthened.

At a lively rally in Philadelphia, Democratic presidential candidate Kamala Harris introduced Minnesota Governor Tim Walz as her vice-presidential running mate.

Their announcement came just hours before they made their first joint appearance, setting the stage for a contentious race against the Republican duo of former President Donald Trump and Ohio Senator JD Vance.

Crypto community dispirited

Despite the enthusiasm surrounding their partnership, crypto voters were left disappointed, as both Harris and Walz have yet to clarify their stances on digital assets and blockchain regulation.  

Remarking on the same, Darren Parkin, editorial director of The Digital Commonwealth, in his recent X (formerly Twitter) post said, 

“Tim Walz hasn’t yet nailed his colours to the mast in terms of Bitcoin and crypto in general.”

He further added, 

“However, he’s a stickler for regulation. Make of that what you will.” 

Although Walz has not explicitly outlined his position on cryptocurrencies, his reputation for supporting regulatory measures suggests he might take a cautious approach toward digital assets. 

Notably, a recent Axios report revealed that Harris was also considering Michigan Senator Gary Peters, who has expressed anti-crypto views, as a potential running mate for the 2024 election.

However, the decision to ultimately choose Walz has left the crypto community puzzled. 

Skeptics support Harris

Despite the mixed reactions from the crypto community, not everyone was discontent with Harris’ vice presidential selection.

In fact, outside the crypto sphere, there was notable optimism about Harris’ prospects.

Independent U.S. Senator Joe Manchin, in a recent Reuters report, expressed his support for Harris, highlighting a positive outlook on her potential success in the upcoming election. 

“All of the candidates were strong and any one of them would have been a great pick, but I can think of no one better than Governor Walz to help bring our country closer together and bring balance back to the Democratic Party.”

Several execs who were in favor of Harris also pointed out that Walz, who has been Minnesota’s governor since 2019 and a former U.S. House Representative, has primarily concentrated on climate change and clean energy.

However, if we look from the crypto lens, it is evident that Walz has not significantly engaged with cryptocurrency or blockchain topics yet.

Tim Walz: crypto impact

Interestingly, this news had the opposite effect on the Kamala Harris [KAMA] memecoin, which hiked by over 13% in the past 24 hours, per CoinGecko.

Additionally, Polymarket predictions showed Harris gaining ground, closing in on President Trump with 47% of the votes, compared to Trump’s slight lead with 52%. 

Source: Polymarket

Thus, with just 91 days remaining, it will be fascinating to see whether crypto will play a decisive role in the 2024 U.S. presidential election.