U.S.VicePresidentKamalaHarrishaspledgedtosupportdigitalassetpoliciesthatprotectcryptoinvestors,especiallyblackmenparticipatinginthesector.
Thepromisewaspartofawide-rangingagendatargetingmenofcolorwhomtheDemocraticflagbearer’steambelievescouldbepivotalintheNovemberpresidentialelections.
SecuringBlackMaleVotersviaCrypto
InanOctober14release,theHarriscampaignpromisedtheircandidatewouldcreateaconducivecryptoregulatoryframeworktoprotect“blackmenandothers”whoparticipateinthemarket.
Harrispointedoutthat20%ofblackpeopleintheUnitedStatesownorhavepreviouslypossessedcryptoassets.Shealsoacknowledgedtherolethese“newtechnologies”wereplayinginbroadeningtheiraccesstoaffordablebankingandfinancialservices,somethingsheadmittedtheyhadbeendeniedinthepast.
However,theteamprovidednofurtherdetailsastowhatpreciselytheregulatoryframeworkbeingadvocatedwouldentail.
Thecandidate,wholaterspokeataneventinErie,Pennsylvania,alsodidnotelaborateontheplan.Asnotedbyobservers,theVPevenfailedtomentiontermsassociatedwiththecryptoindustry,suchas“blockchain”or“digitalassets,”inherspeech.
Onecritic,BitcoinMagazine’sNikolausHoffman,calledHarris“theworstcandidateforBitcoin,”describingherlatestpledgeas“race-based.”
ThescribecomparedherapproachtoDonaldTrump’s,whichhejudgedasbeing“muchbetter,”giventhattheformerpresidenthadactuallygivenspecificdetailsaboutwhatheintendstodoforcrypto.
Trump’sPro-CryptoStanceGainsMomentum
TheHarristeamitselfhadnokindwordsforTrump,claiminghehad“repeatedlyshownopencontemptforblackAmericansandblackmen.”However,theRepublicancandidate,whorecentlydeclaredhimselfthe“CryptoPresident,”hasmadealotofheadwaywithinthecommunity.
Afteryearsofdiscreditingvirtualassets,Trumphadanapparentchangeofheartinthiselectioncycle.Heembracedtheindustryfull-heartedlyandmadewholesalepromisesofputtinginplacefriendlierregulatorsaswellascreatingaBitcoinadvisorycouncilifhewonthepresidentialrace.
Onlylastmonth,TrumpmadeheadlineswhenhevisitedPubKey,aNewYorkbarthatacceptscrypto,andboughtburgers.
The78-year-oldseemstobetyinghimselfevenmoretightlywiththedigitalassetssectorafterhisfamilyfrontedanewdecentralizedfinance(DeFi)projectdubbedWorldLibertyFinancial(WLF).TheprojectisduetostartsellingitsnativeWLFItokenasitlookstoraise$300million.
Harris,onherpart,hashadtoshakeofftheanti-cryptotagthatcamewithherbeingpartoftheBidenadministration.
Theadministration’sfaceattheSecuritiesandExchangeCommission(SEC),GaryGensler,hasbecomehugelyunpopularincryptocirclesforwhatsomeperceiveasregulatoryoverreachinhispolicingoftheindustry.
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