- Vice President Kamala Harris unveils a new proposal for a new regulatory framework in crypto.
- The proposal aims to win over black male voters ahead of November 5th.
- Cryptocurrencies have played a bigger role in this campaign than ever before.
Current Vice-President of the United States and candidate in the upcoming election, Kamala Harris recently announced crypto-related plans during the campaign. On a 9-page document aimed at convincing black voters, Harris covered several topics of interest, including cryptocurrencies, specialized loans, education, industry opportunities in the Marijuana industry, and also a National Health Equity Initiative.
The document focuses on Black American men – claiming that they are more likely to be denied credit by financial institutions. Additionally, Black entrepreneurs often face limited access to capital.
Specifically on the topic of cryptocurrencies, the initiative cites that over 20% of Black Americans owned cryptocurrency at one point in their lives. The proposal emphasizes that – if elected – Harris will push for a clear regulatory framework, in a bid to protect investors in the market.
Crypto Takes Center Stage in Candidates’ Final Campaign Push
With less than a month before the election, both Donald Trump and Kamala Harris appear to be weighing in more on cryptocurrencies. Just this week, Trump took to social media to celebrate the launch of a new token, WorldLibertyFi (WLF).
A little-known fact regarding this election is that cryptocurrency took a major role during the campaign. An August report from Public Citizen shows that crypto corporate donations make up for almost half (48%) of the total donations.
Putting this into perspective, 2024’s donations outweigh the amount of crypto donated over the last 3 elections put together. Given that corporations cannot directly donate to candidates, most crypto donations went to Political Action Committees (PACs).
The majority of crypto-related donations went to FairShake PAC, a super PAC that focuses on supporting pro-crypto candidates. This committee received over $200 million in donations, including donations from CoinBase and Ripple of roughly $50 million each.
Undoubtedly, digital assets are getting more prominent in politics. On top of the growing importance of crypto in the financial sector, voters are also becoming more aware of its potential impact on the economy and their daily lives.
