New York, Tuesday, October 15, 2024- Vice President Kamala Harris has introduced a cryptocurrency regulatory framework as part of her “Opportunity Agenda for Black Men,” seeking to address the increasing involvement of Black Americans in digital assets.
According to her campaign, over 20% of Black Americans own crypto. This move comes less than a month before the presidential election, signaling the Democratic Party’s evolving stance on crypto.
The plan aims to protect investors and owners of digital assets, ensuring a regulatory framework for the growing sector. Harris’ team emphasized that new technologies like crypto can improve access to financial services, especially for marginalized communities. The proposal complements Harris’ broader economic vision, which focuses on supporting innovation while maintaining consumer and investor safeguards.
However, criticism has emerged from industry leaders like Cleve Mesidor, who expressed concern that the proposal focuses narrowly on Black men. She argues that the approach limits their potential to be producers in the crypto economy.
With polls showing a tight race between Harris and GOP candidate Donald Trump, who has promised to end what he describes as an “unlawful crackdown” on crypto, the topic of digital assets may play a crucial role in the election. Harris’ campaign has gained significant support from the crypto community, including a $1 million XRP donation from Ripple co-founder Chris Larsen.
