Kamala Harris defends pro-Crypto regulations, but again does not provide details

US Vice President Kamala Harris has pledged to support digital asset policies that protect crypto investors, especially black men involved in the sector.

The pledge was part of a broader agenda aimed at men of color who the Democratic banner team believes could be key in November’s presidential election.

Securing Black Male Voters Through Crypto

In an Oct. 14 statement, the Harris campaign promised that its candidate would create an enabling crypto regulatory framework to protect “black men and others” who participate in the market.

Harris noted that 20% of black people in the United States own or have previously owned crypto assets. He also acknowledged the role these “new technologies” were playing in expanding their access to affordable banking and financial services, which he admitted had denied them in the past.

However, the team did not provide further details on what exactly the regulatory framework being advocated would entail.

The candidate, who later spoke at an event in Erie, Pennsylvania, also did not elaborate on the plan. As observers pointed out, the vice president didn’t even mention terms associated with the crypto industry, such as “blockchain” or “digital assets,” in her speech.

One critic, Nikolaus Hoffman of Bitcoin Magazine, called Harris “the worst candidate for Bitcoin,” and described his latest pledge as “race-based.”

The scribe compared her approach to Donald Trump’s, which she judged to be “much better”, given that the former president had actually given specific details about what he intends to do for cryptography.

Trump’s pro-crypto stance gains momentum

Harris’ own team did not have kind words for Trump, claiming he had “repeatedly shown an open contempt for black Americans and black men.” However, the Republican candidate, who recently declared himself the “Crypto President”, has made a lot of progress within the community.

After years of discrediting virtual assets, Trump had an apparent change of heart this election cycle. He embraced the industry wholeheartedly and made wholesale promises to put in place friendlier regulators and create a Bitcoin advisory board if he won the presidential race.

Just last month, Trump made headlines when he visited PubKey, a New York bar that accepts crypto, and bought burgers.

The 78-year-old appears to be even more closely tied to the digital asset sector after his family spearheaded a new decentralized finance (DeFi) project called World Liberty Financial (WLF). The project will begin selling its native WLFI token as it aims to raise $300 million.

Harris, meanwhile, has had to shed the anti-crypto label that came with being part of the Biden administration.

The administration’s face at the Securities and Exchange Commission (SEC), Gary Gensler, has become very unpopular in crypto circles for what some perceive as excessive regulation in its oversight of the industry.

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