As a seasoned researcher and analyst with a keen interest in both politics and finance, I find myself intrigued by this interesting dance between U.S. Vice President Kamala Harris and former President Donald Trump over digital assets, particularly crypto.
U.S. Vice President Kamala Harris has vowed to advocate for digital asset regulations that safeguard crypto investors, with a particular focus on ensuring equal participation of African American men in this field.
As a crypto investor, I found myself captivated by the assurance that was embedded within a comprehensive plan aimed at engaging men of color, a demographic considered crucial for the success of the Democratic candidate in the upcoming November presidential election.
Securing Black Male Voters via Crypto
On October 14th, the Harris campaign declared that their candidate aims to establish a favorable regulatory structure for cryptocurrencies, safeguarding not just black men but also all individuals involved in the market.
Harris emphasized that approximately one-fifth of African Americans in the U.S. currently hold or have held cryptocurrencies at some point. She also highlighted the impact these innovative technologies are having on expanding their opportunities for affordable banking and financial services, an area where they have historically been underserved.
Yet, the team failed to give any specifics about the nature of the proposed regulatory structure they were promoting.
At a subsequent gathering in Erie, Pennsylvania, the candidate didn’t provide further details about their proposed plan. It was observed that during her speech, the Vice President also neglected to include phrases commonly used in the crypto sector, like “blockchain” and “cryptocurrency.
One critic, Bitcoin Magazine’s Nikolaus Hoffman, called Harris “the worst candidate for Bitcoin,” describing her latest pledge as “race-based.”
The scribe’s method was likened to Donald Trump’s, with the assessment that his approach was significantly superior due to the fact that, unlike previous presidents, Trump provided clear and detailed plans regarding his intentions for cryptocurrency.
Trump’s Pro-Crypto Stance Gains Momentum
The Harris group didn’t have any positive comments about Trump, asserting that he had demonstrated disrespect towards Black Americans and Black men on numerous occasions. Yet, the Republican nominee, who has labeled himself as the “Crypto President,” has been making significant strides within this community.
Over time, Trump had been critical of digital currencies. However, during this election campaign, there seemed to be a shift in his stance. He appeared to fully endorse the industry and made broad promises about appointing more lenient regulators and even establishing a Bitcoin advisory committee if he were elected president.
Just recently, Trump gained attention by dropping by PubKey, a New York establishment that welcomes cryptocurrencies, where he purchased some burgers using digital money.
78-year-old appears to be deepening his bond with the digital assets industry by supporting a newly launched decentralized finance (DeFi) initiative called World Liberty Financial (WLF). This venture is preparing to launch its native WLFI token and aims to gather approximately $300 million.
On her side, Harris has needed to discard the label of being anti-cryptocurrency that was associated with her role within the Biden administration.
The head of the Securities and Exchange Commission (SEC), Gary Gensler, is widely criticized within cryptocurrency communities due to concerns that he’s excessively regulating the industry, which some view as an overstep.
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2024-10-16 01:24