Some U.S. crypto advocates are currently working with U.S. Vice President Kamala Harris to move the Democratic Party away from Senator Elizabeth Warren and Securities and Exchange Commission Chair Gary Gensler, SkyBridge Capital Founder Anthony Scaramucci said during a panel discussion on Thursday at Token2049 in Singapore.

“I’m here, but there’s a group of cryptocurrency advocates, bitcoin advocates that are working alongside her to distance the Democratic Party, the future of the Democratic Party, away from Elizabeth Warren and Gary Gensler,” Scaramucci said. “I believe we are making progress, and I think it’s going in the right direction.”

Scaramucci said that as a result, there may be more positive legislation and more clarity for stablecoins and the broader regulatory framework on crypto. The SkyBridge founder said former president Donald Trump’s election may “touch off an avalanche” of people on the opposing side of his campaign, which may bring about the “danger” that prevents the U.S. from having a bipartisan political stance on crypto policies.

However, BitGo CEO Mike Belshe said during the panel that U.S. presidents “uniquely” have a tremendous influence in appointing regulatory agencies historically, and that he saw that Trump has provided clarity in his crypto-related proposals. 

“We have not heard the same from Harris,” Belshe added. Belshe previously wrote on X: “If you care about crypto and freedom, you have to vote Trump.”

Meanwhile, Circle CEO Jeremy Allaire, who was also present at the panel discussion, said: “Circle is purple, and crypto is purple.” 

“This is technology, and this technology keeps getting built and the innovation around it is global … Technology does not care about politics,” Allaire said. “It doesn’t matter who wins the presidential election.”

The Circle CEO said policies naturally react to the changes and adoption of technology in society. “My view is, when technology delivers utility to society, individuals, firms [and] households around the world, policy is responsive to society.”

To Allaire’s comment, BitGo’s Belshe agreed but added that political conversations around crypto are still necessary. “Jeremy’s right. It doesn’t really matter what happens here in this election, and technology will persevere,” Belshe said. “But it is about what happens over the next four years or eight years.”

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