Nansen CEO Warns of Crypto Crackdown if Harris Elected

Nansen CEO Warns of Crypto Crackdown if Harris Elected

Nansen CEO Alex Svanevik has warned that a potential Kamala Harris presidency could lead to a crackdown on the crypto industry. In an interview with Cointelegraph, Svanevik said that if Harris were to be elected, it would likely mean "more of the same" for the crypto industry: not unfriendly but also not helpful for innovation. "Actually some of the founders and CEOs I’ve spoken to have said that if she were to get elected, they would consider moving their business [outside the US]," Svanevik said. Svanevik's comments come amid growing concerns about the Biden administration's approach to crypto regulation. Earlier this year, Treasury Secretary Janet Yellen called for stricter regulation of the industry, and the Securities and Exchange Commission (SEC) has stepped up its enforcement actions against crypto companies. If Harris were to become president, it is likely that she would continue to take a tough stance on crypto regulation. Harris has previously expressed concerns about the potential for cryptocurrencies to be used for illegal activities, and she has called for more oversight of the industry. A crackdown on crypto could have a significant impact on the industry. It could lead to increased costs for crypto companies, and it could make it more difficult for new companies to enter the market. It could also discourage investors from investing in cryptocurrencies.