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Cryptocurrency News Articles
Ripple Founder Donates $1 Million in XRP to Kamala Harris' Campaign
Oct 12, 2024 at 03:22 am
Federal Election Commission (FEC) filings show Larsen donated $1 million in XRP crypto coin (in kind 1.7 million XRP) to Future Forward USA PAC on Aug. 14.
Ripple (XRP) co-founder Chris Larsen donated $1 million in XRP to Vice President Kamala Harris’ campaign, according to Federal Election Commission (FEC) filings.
The donation was made on Aug. 14 to Future Forward USA PAC, a political action committee that supports Harris and her campaign. The donation was made “in kind” and consisted of 1.7 million XRP.
This brings Larsen’s total donations to Harris to $1.9 million. He has endorsed Harris in the 2024 White House race and signed a letter in early September that advocated for a Democratic administration under Harris.
The letter stated that Harris would “continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.”
Harris’ campaign began accepting cryptocurrency donations in September. The campaign is also reportedly in talks with Coinbase (NASDAQ:COIN) and Ripple.
In a recent interview, Harris said that she would consider any encouraging technologies, including artificial intelligence and digital assets.
“I think we have to be open to the technology that is emerging, whether it is in the realm of artificial intelligence or digital assets, and really encouraging the technology that will help advance our society,” Harris said.
What else to know about Harris, XRP and crypto?
Harris has not publicly commented on XRP or Ripple’s legal battle with the SEC. However, she has spoken about the importance of regulating cryptocurrencies.
“I think it's really important that we have clear rules of the road for digital assets, including cryptocurrencies,” Harris said in a recent interview with Axios.
“We need to make sure that there's consumer protection, that we're protecting against illicit activity, and that we're also fostering innovation in this space.”
While Harris’ campaign is accepting XRP donations, it’s unclear whether her administration would classify XRP as a security. The SEC has argued that XRP is an unregistered security, while Ripple maintains that it is a decentralized digital asset.
A court will ultimately decide on XRP’s status, but Harris’ administration could play a role in shaping future cryptocurrency regulation.
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