Kamala Harris Supports Pro-Crypto Regulation but Fails to Provide More Details

US Vice President Kamala Harris has vowed to support digital asset policies that protect crypto investors, especially Black people participating in the sector.

The pledge is part of a broad agenda targeting men of color who the Democratic Party’s flag-bearing team believes could play a key role in next November’s presidential election.

Securing Black Male Voters through Crypto

In an October 14 release, Harris’ campaign promised that their candidate would create a crypto regulatory framework conducive to protecting “Black people and others” participating in the market.

Harris pointed out that 20% of Black people in the United States own or have owned crypto assets. He also acknowledged the role of these “new technologies” in expanding their access to affordable banking and financial services, something he acknowledged had been denied in the past.

However, the team did not provide further details regarding what exactly the recommended regulatory framework is.

The candidate, who later spoke at an event in Erie, Pennsylvania, also did not elaborate on his plans. As observers noted, the VP failed to even mention terms related to the crypto industry, such as “blockchain” or “digital assets,” in his speech.

One critic, Nikolaus Hoffman of Bitcoin Magazine, called Harris “the worst candidate for Bitcoin,” describing his latest appointment as “race-based.”

The scribe compared his approach to Donald Trump’s, which he said was “much better,” considering the former president has actually provided specific details about what he wants to do for crypto.

Trump’s Pro-Crypto Stance Gaining Momentum

Harris’ own team had nothing but kind words for Trump, claiming that he “repeatedly demonstrated open contempt for Black Americans and Black men.” However, the Republican candidate, who recently declared himself the “Crypto President,” has made a lot of progress in the community.

After years of discrediting virtual assets, Trump appears to have changed his mind in this election cycle. He embraced the industry wholeheartedly and made big promises to implement friendlier regulators as well as create a Bitcoin advisory board if he wins the presidential election.

Just last month, Trump made headlines when he visited PubKey, a bar in New York that accepts crypto, and bought a burger.

The 78-year-old appears to be increasingly tying himself to the digital asset sector after his family took the helm of a new decentralized finance (DeFi) project dubbed World Liberty Financial (WLF). The project will begin selling its native WLFI token as it seeks to raise $300 million.

Harris, for her part, will have to shed the anti-crypto label that comes with being part of the Biden administration.

The face of the administration at the Securities and Exchange Commission (SEC), Gary Gensler, has become very unpopular in crypto circles due to what some consider to be regulatory violations in his policies towards the industry.