Kamala Harris Proposes Policy Aiming at Safeguarding Black Men Crypto Investments

Vice President of the United States and presidential candidate Kamala Harris has revealed plans for a new framework for cryptocurrency assets in an “Opportunity Agenda” aimed at protecting the crypto investments of Black men in the U.S.

The initiative seeks to bolster support from the black community amid waning support from Black men. Recent polls show 70 percent of Black male voters saying they would support Harris, down from 85 percent who supported US President Joe Biden in the last election four years ago.

Kamala Harris Opportunity Agenda

Kamala Harris’s supposed “tough crypto stance” seems to have increasingly softened as she attempts to court the crypto industry’s support. Her “opportunity agenda” particularly seeks to provide tools for wealth creation and economic advancement within the Black male community.

One such agenda focuses on “enabling Black men who hold digital assets to benefit from financial innovation.” She pledges to establish a regulatory framework to protect investors and owners in the digital asset space, where more than 20% of Black Americans currently own or own assets.

Additionally, the agenda promises to provide $1 million fully forgivable loans to Black entrepreneurs and others to start businesses, expand access to banking services and tackle predatory lending practices, champion education, training, and mentorship programs for Black men, address health challenges that disproportionately affect Black men, and legalize recreational marijuana.

The policy strives to create a more equitable economic landscape by improving financial infrastructure and consumer protections for Black male Americans.

Crypto Policies’ Important Role in U.S. Elections

Cryptocurrency is becoming a significant part of many Americans’ financial portfolios and is taking an increasingly important role in determining who leads the biggest economic power in the world.

The leadership of the U.S. SEC, in particular, is a major bone of contention. American crypto holders accuse the current chair, Gary Glesner, and the SEC of overstepping their jurisdiction and failing to provide clear regulatory guidance. As a result, the current commissioner of the U.S. SEC, Mark Uyeda, has described the agency’s current approach to crypto as disastrous.

On the other hand, Donald Trump pledged in July to fire the current Securities and Exchange Commission (SEC) chairman, Gary Gensler, on his first day in office if he is reelected as the president of the United States.