Kamala Harris Speaks of Crypto's Importance, Looks to Regulations

With the day of the 2024 U.S. presidential election drawing near, Vice President Kamala Harris has revealed her support of a cryptocurrency regulatory framework that indicates her stance on the technology and how it might be perceived should she win the presidential race.

This comes as part of a set of proposals from Harris which acknowledges that over 20% of Black Americans have engaged with crypto assets. The policy also indicates that she sees the benefits in the financial opportunities that crypto brings. Harris’ vision centers around ensuring consumer protection while encouraging innovation in the digital finance sector, setting the stage for potentially significant regulatory developments which would be a welcome change for the crypto scene in the US which has long sought regulatory clarity, especially with recent and ongoing actions from the SEC.

Harris’ crypto policy, focused on consumer and investor safety, is only going to add to the increased demand for crypto services and, with that, an increased need for improved Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. As regulatory requirements tighten, blockchain and cryptocurrency platforms need robust yet simple KYC and AML solutions to navigate the changing compliance landscape. In the long term this change should lead to a clear, stable regulatory environment that can significantly reduce the risk for both individuals and financial entities to engage in the crypto market, but in the short term compliance solutions will need to be prepared to adapt to meet market needs.

Blockpass' streamlined identity verification systems are ready to provide essential support to blockchain startups, crypto exchanges, financial services and any other companies using digital assets that need to stay compliant with updated laws. By simplifying KYC and AML processes, Blockpass can help firms meet these emerging regulations as they come in and can do so with a focus on safety, security, cost-efficiency and privacy. Not only this, but Blockpass’ approach of putting individuals in control of their own data also fits with Harris’ goals of giving power back to the people, as Blockpass users have control of their information and which services they engage with.

Moreover, as Harris' plan focuses on protecting underserved communities that are increasingly involved in the crypto space, ensuring that financial platforms can securely verify and protect users' identities should be of paramount concern. Blockpass' wide range of compliance tools and customizable nature will prove essential for those companies seeking to meet these requirements, building trust within the crypto ecosystem and making the crypto space safer and more accessible for all.

Kamala Harris' approach to crypto regulation is poised to usher in a new era of clarity and consumer protection within the digital asset space, particularly in the US. Blockpass is both excited and prepared to support compliance and safeguard the growing blockchain and crypto ecosystem as it expands under these sensible and necessary oversights. As regulation continues to become more central to the crypto conversation, Blockpass is perfectly positioned to help businesses adapt, while also helping to create a more transparent and secure digital world.

About Blockpass

Ditch tedious onboarding and say hello to seamless compliance with Blockpass, the ultimate turnkey solution for KYC, KYB, and AML. Experience the market's most efficient and cost-effective compliance suite, built by seasoned compliance veterans and crypto-natives. Automate compliance processes, eradicate fraud, and onboard globally with confidence. Verify businesses worldwide, launch bank-grade verification for your organization, and instantly activate compliant KYC/AML for DeFi, exchanges, token launchpads, NFT mintings and beyond. Through Blockpass’ decentralized network of a million pre-verified crypto-enthusiasts and a thousand pre-verified businesses, you can expand your reach effortlessly. Leverage Advanced KYC BotTM for intelligent remediation, On-Chain KYC® for data-free anonymity, and Unhosted Wallet KYCTM to meet Crypto Travel Rule regulations. Join Animoca Brands, Cardano, Polygon, Chainlink, Delta Exchange, National Geographic, TinyTap, Seedify, ChainGPT, Iskra and many more in partnering with Blockpass for compliance you can trust, growth you can accelerate and an experience you can enjoy. Join the cutting edge of secure, streamlined onboardings.

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