Vice President Kamala Harris announced her unconditional support for cryptocurrency and digital assets at a recent fundraiser, just weeks before the election.
Should she win the presidency, will Kamala Harris turn into a crypto supporter?
Harris positioning herself as a proponent of financial innovation comes as a part of her broader “Opportunity Agenda,” which aims to address economic disparities and promote wealth creation, particularly within the Black community.
Kamala Harris unveiled new policy proposals aimed at Black men which includes:
-providing a million loans to Black entrepreneurs
-creating more Black male mentor programs
-a health initiative for diseases like prostate cancer
-protecting crypto assets https://t.co/pAx3W9IoiB— philip lewis (@Phil_Lewis_) October 14, 2024
Just last month, speaking at a Wall Street fundraiser in Manhattan, Harris emphasized the importance of embracing emerging technologies while ensuring consumer protection and investor security.
“We will partner together to invest in America’s competitiveness, to invest in America’s future,” Harris said. “We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Related: Kamala Harris Pledges Support For AI And Crypto In First Statement On Digital Assets
20% Black Americans Engage With Crypto
Harris’s crypto initiative is centered around establishing a regulatory framework designed to protect investors, especially Black men, who are increasingly participating in the digital asset market.
According to her plan, more than 20% of Black Americans have engaged with cryptocurrencies, highlighting the need for protective measures against potential risks such as fraud and market manipulation. So, the proposed regulations are intended to create a transparent environment that encourages fair access to financial innovation.
By addressing historical barriers to wealth creation, Harris is hoping to to empower marginalized communities through secure investment opportunities in digital assets
Harris’s Newfound Support For Crypto Comes At A Critical Time In The Election Race
Her acknowledgment of the sector marks a departure from previous ambiguity and signals a potential shift in her approach to financial innovation.
Recently, a fundraiser in Washington saw key crypto figures raise $100,000 for Harris.
Related: Key Crypto Heads Plan To Raise $100K For Kamala Harris
Despite this, some members of the crypto community remain skeptical.
Critics point out that Harris has previously avoided addressing digital assets in her policy statements. Furthermore, they have raised concerns about whether her administration would continue the current stringent regulatory approach.
The contrast between Harris’s and Trump’s positions on cryptocurrency is stark.
While Harris focuses on regulation and economic inclusion, Trump has consistently expressed strong support for Bitcoin and the broader crypto industry.
He has pledged to make America the “world capital of crypto and Bitcoin” and proposed measures such as establishing a government efficiency commission led by Elon Musk.
Related: What Does Kamala’s Unrealized Gains Tax Mean for Crypto Bags?
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.