Kamala Harris Pledges Crypto Regulatory Framework to Help Black Men Invest

Kamala Harris has caught the attention of the crypto industry after her campaign pledged to support regulation.

During a speech on Monday, Harris declared, "We will build a future where we have what I call an opportunity economy, where everyone can compete and have a real chance to not just to get by, but to get ahead."

Although she did not mention digital assets in the speech, a campaign release ahead of the speech revealed that the Harris-Walz team is pledging to "support a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected."

Over 20% of Black Americans own or have owned cryptocurrency assets according to the campaign, which added that Harris's plans "make sure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected."

The campaign claimed that "Donald Trump spent four years making Black men’s lives harder" and that Harris is striving to rectify it. However, the former US President, who declared himself to be the Crypto President, is proving to be the sector's more favorable candidate.

In a scathing take in Bitcoin Magazine, author Niklaus Hoffman described Harris's freshly announced regulatory framework as a "huge misstep," which demonstrates that she "in no way understands Bitcoin."

Hoffman's main issue with Harris's framework is its focus on race as "everyone already has equal access [to Bitcoin] regardless of race, color, creed."

"Let’s just imagine Trump had come out with an agenda stating he will work on policy that will benefit white people in the crypto industry. The media would be in uproar about it. But, unlike Harris, Trump is not favoring one race of people over everyone else. He is making pro-Bitcoin policies that are for ALL Americans," Hoffman argues.

"Trump’s approach is undoubtedly far better for Bitcoin than the one Harris has proposed: he actually gives specific details on what exactly he would do to foster innovation within this industry if elected, and it explains how these policies benefit everyone," he concludes.

Unlike Trump, who has repeatedly expressed his overwhelming support of the crypto sector, Harris has remained relatively muted on the topic. Her crypto regulation pledge isn't the first time she's mentioned the sector in her campaign, however.

While campaigning in New York City last month to raise money for her 2024 presidential campaign, Vice President Harris promised to increase funding for AI and cryptocurrency if elected.

"We will partner together to invest in America's competitiveness and future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors," she stated but did not elaborate further.

Harris also spoke at the Economic Club of Pittsburgh, stating that under her leadership, the US will "recommit" to maintaining global leadership in sectors that will shape the future, emphasizing the country's aim to "remain dominant in AI and quantum computing, blockchain, and other emerging technologies."

From Harris’ latest speech today she says that the US should become “Dominant in Blockchain”

I’m sure the “silence isn’t enough” “digital assets isn’t enough” crowd will move the goal post again.

But: progress!

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— Adam Cochran (adamscochran.eth) (@adamscochran) September 25, 2024