Crypto Community Tensions Grow Over Kamala Harris’ Lack of Crypto Clarity

Kamala Harris met representatives of the Black Community for the ‘Opportunity Agenda,’ but a weird crypto omission stirred controversy in crypto.

Americans will go to the polls in three weeks, and much is at stake. Joe Biden had to step down for Kamala Harris, who now has to face Donald Trump head-on.

Ahead of this General Election, crypto is surprisingly an important consideration – with crypto PACs being the backbone of campaign finance this election, putting in more money to election campaigns than any other industry,

After efforts by the United States SEC and the Biden administration to “choke” the industry via Operation Chokepoint, not only has it been resilient, but the exit of bad actors has made the sphere more conducive for everyone.

As governments try to develop supportive laws in the United States, crypto fans want to know precisely what Harris and Trump have in store for them.

From what’s there, Trump is pro-crypto, promising goodies for crypto miners, and is even associated with a new DeFi project, World Liberty Financial. The former president even plans to create a Bitcoin reserve should he win.

Meanwhile, Harris has not been clear, failing to elaborate on what she plans to do on crypto matters if she takes over.

Kamala Harris Fails to Mention About Crypto And Blockchain

Yesterday, the current vice president was promoting her “opportunity agenda,” and she met with representatives from the Black community.

Harris promises to create a fairer economy for all in her ambitious campaign. However, amid all this, she didn’t mention anything about crypto or blockchain – just a strange comment talking about the need to protect the 20% of black men in America that have engaged with digital assets.

Instead, she focused on topics related to economic opportunity, detailing her vision of economic mobility without mentioning how crypto can help influence it.

The absence of specific guidance on crypto was received with much dismay, especially considering the growing adoption of crypto in the black community and the tech’s promise to shape the global economy, not just the United States.

Backlash From the Black Community

Some now see the Monday campaign as a desperate attempt by the Democrats to gain support from the Black Community.

While mentioning crypto as part of the agenda without Harris saying it as part of the “opportunity agenda,” some on X claim it is a confirmation.

dems see Black men not showing up in the polling numbers to vote for them: "hey maybe if we say we'll let them smoke weed and launch pump funs in peace they'll like us again"

bro what the FUCK does this mean pic.twitter.com/SyUOc8PxJb

— Ansem 🧸💸 (@blknoiz06) October 15, 2024

The Harris campaign team knows that 20% of the Black community owns cryptocurrency.

However, there is concern due to the vice president’s lack of plans for developing laws and regulations to promote greater adoption within this community.

The current regulatory proposals aimed at protecting “crypto investors” have been seen as oppressive.

The Digital Asset Anti-Money Laundering Act by Senator Warren was said to have been drafted by Wall Street bankers.

If this bill goes through, it could adversely affect crypto and blockchain innovation. Some of its proposals include the introduction of strict AML and CFT laws for crypto.

The latest Polymarket data shows that the vice president is trailing Donald Trump. The former president has a 55.8% chance of winning the presidency versus just 43.8% for Harris.

(Source)

Still, other influencing factors could determine the early November General Election winner. Immigration plans, for example, remain a contentious topic, alongside concerns about the state of the economy.

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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.