Kamala Harris Finally Affirms Support For Crypto, But There Is A Twist

Democratic National Convention (DNC) Presidential Candidate Kamala Harris is trying to get the crypto community on her side with a regulation shift. On Monday,  she released a proposal dubbed the “Opportunity Agenda for Black Men.” This proposal is her way of offering support to members of the Black community who own digital assets.

Kamala Harris to Support Crypto Regulation For Black Men

According to the document, the United States Vice President plans to back a crypto regulation framework that protects Black Men who invest in and own cryptocurrencies. This proposal, designed to help build wealth for Blacks, comes only a few weeks before the much-anticipated 2024 US elections. It also comes a month after publicly announcing support for Artificial Intelligence (AI) and crypto.

Her campaign team highlighted that she appreciates the ways in which new technologies are able to broaden access to banking and financial services. “She will make sure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected,” the team wrote.

As part of her plans, she intends to support these Black men, with one million loans that are fully forgivable up to $20,000. This is particularly for entrepreneurs who are looking to start a business. Also, Kamala Harris wants to launch a Black men-focused health initiative and legalize recreational marijuana.

By making such move, the Presidential hopeful is suggesting that she may have moved to the pro-crypto side of affairs. For now, it is not yet certain if this is a genuine pivot or a move to gain votes from the crypto community. Meanwhile, her campaign team recently received $1 million in XRP from Ripple Labs Chaiman Chris Larsen. This is a major shift in support from high profile crypto figures.

Donald Trump Receives Support From Key Crypto Leaders

Despite the latest move toward crypto regulation by Kamala Harris, the major twist in her bid is Donald Trump/

Based on current polls, Republican Presidential Candidate Donald Trump has a higher winning odds. Owing to his pro-crypto stance, several netizens are rallying behind him, with high bets on Polymarket. With such backing, Kamala Harris may have to do better than her latest proposal to shift the course in her favor.

While Chris Larsen backs VP Harris, Cardano founder Charles Hoskinson strongly believes that Trump is a better presidential candidate this election cycle.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.