Kamala Harris Laughs Off Bitcoin Question
Vice President Kamala Harris drew laughter from the audience on Thursday when she was asked about the recent volatility in the cryptocurrency market.
During an interview with CNBC, Harris was asked if the Biden administration was concerned about the sharp decline in the value of Bitcoin and other cryptocurrencies.
“I’m not a financial advisor, but I will say this: I do believe that we need to be very thoughtful about how we regulate this market,” Harris said. “We need to make sure that we’re protecting consumers, that we’re protecting investors, and that we’re preventing illicit activity.”
When asked if the administration was considering a ban on cryptocurrency trading, Harris said, “I don’t think we’re there yet.”
“I think we’re still in the learning phase,” she said. “We need to understand this market better before we make any decisions about how to regulate it.”
Harris’s comments come as the cryptocurrency market has been in turmoil in recent weeks. Bitcoin, the largest cryptocurrency by market capitalization, has lost more than 50% of its value since reaching an all-time high of nearly $65,000 in April.
The volatility has raised concerns among regulators and policymakers around the world. The Biden administration has been studying the cryptocurrency market and is expected to release a report on its findings later this year.
Harris’s comments suggest that the administration is not yet ready to take any drastic action on cryptocurrency trading. However, it is clear that the administration is concerned about the risks posed by the market and is considering how to regulate it.
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