Harris Supports Cryptocurrency Framework for Black Men

U.S. Vice President Kamala Harris expressed her intent to back a cryptocurrency regulatory framework aimed at protecting Black men who invest in crypto as part of her "Opportunity Agenda for Black Men" proposal.

Less than a month before the presidential election, Harris unveiled her proposal on Monday, noting that over 20% of Black Americans have owned or currently own cryptocurrency, according to her team.

"Vice President Harris appreciates the ways in which new technologies can broaden access to banking and financial services," the campaign team stated. "She will ensure that owners of and investors in digital assets benefit from a regulatory framework, providing protections for Black men and others in this market."

Alongside the crypto framework, Harris' proposal includes providing one million fully forgivable loans up to $20,000 to Black entrepreneurs, launching a health initiative focused on Black men, and legalizing recreational marijuana.

This is not Harris' first focus on cryptocurrency. Last month, she emphasized her administration's support for innovative technologies like AI and digital assets while promoting consumer protections in her extensive economic plan. Meanwhile, Republican candidate Donald Trump has pledged to end what he refers to as an "unlawful and un-American crackdown" on the U.S. crypto industry and has backed a specific crypto project, World Liberty Financial.

Criticism of Harris' approach came from Cleve Mesidor, founder of the National Policy Network for Women of Color in Blockchain. Mesidor expressed concern that the Harris-Walz policy team focused narrowly on Black men, failing to engage with diverse leaders in the crypto space. She described the policy rollout as limiting Black men to being consumers rather than producers in the industry.

Mesidor, along with other advocates, sent a letter to Harris' campaign requesting a meeting this month to discuss recommendations for enhancing innovation and inclusion in crypto, although that meeting has yet to occur. Representatives from the Harris-Walz team did not respond promptly to requests for comment.