U.S. Vice President and Democratic presidential candidate Kamala Harris has announced a new plan aimed at supporting Black men through favorable cryptocurrency regulations.
“Opportunity Agenda for Black Men,”
This initiative highlights Harris’ commitment to providing regulatory safeguards for Black crypto investors and fostering opportunities through digital assets.
Her campaign team revealed the plan on October 14, positioning it as a pivotal element of her economic strategy in the lead-up to the 2024 presidential election.
According to Harris, the growing adoption of blockchain technology and cryptocurrencies among Black Americans offers a unique opportunity to bridge gaps in access to financial services.
Data shows that over 20% of Black Americans have either owned or currently own cryptocurrencies. Harris believes that clearer regulations will ensure these investors are protected while allowing them to capitalize on the potential benefits of digital currencies.
Crypto at the Heart of the 2024 Presidential Race
Harris’ push for crypto-friendly policies comes as digital assets become an increasingly hot topic in the 2024 U.S. presidential race. Her campaign joins other crypto-focused proposals aimed at striking a balance between investor protection and innovation.
The Vice President’s plan mirrors her broader economic strategy, which also includes backing emerging technologies like artificial intelligence. These technologies, Harris argues, could improve access to banking and capital-raising opportunities for marginalized communities, particularly Black men.
However, Harris isn’t the only candidate advocating for cryptocurrency. Her opponent, former President Donald Trump, has pledged to support Bitcoin and promote Bitcoin mining across the U.S. His plans include creating a national Bitcoin reserve and establishing regulatory frameworks to position the U.S. as a global leader in cryptocurrency.
Additionally, Trump’s campaign recently announced the launch of “World Liberty Financial,” a decentralized finance (DeFi) project aimed at expanding access to investment opportunities.
Despite these bold campaign promises, the topic of cryptocurrencies has received mixed reactions. Some industry leaders have welcomed Harris’ regulatory focus, while others, like crypto researcher Molly White, argue that the interest in digital assets among voters may be overstated.
White pointed to a Paradigm survey that found many Black Democratic voters don’t necessarily view crypto as beneficial to the U.S. economy.
