Seeking to win the support of Black men, Kamala Harris’s campaign team released a surprising agenda earlier this month that included a commitment to formulate a clear crypto regulatory framework to safeguard Black Men and their digital asset investments when the Vice President occupies the White House.
Kamala’s late plans for crypto have surprised many, considering she hasn’t focused on the blockchain industry since being endorsed by the Democratic party after President Joe Biden quit the race in July.
The crypto community has received the Vice President’s plan with mixed reactions. Some members have welcomed her regulatory promises, while others criticize her for favoring Black men.
Why Dr. Ali Emdad Believes Kamala’s Crypto Plans Are Good for the Industry
Dr. Ali Emdad, Morgan State University’s Director of the Center for the Study of Blockchain, is among those in support of Kamala’s crypto plans. He says regulatory clarity will promote crypto innovation and enable Black people to become leaders in the blockchain sector. Emdad also reveals that Black Americans have embraced crypto more than whites. He points to research that shows over 25% of Black people are crypto owners, while about 12% of whites hold digital assets.
Emdad also says skepticism shown by some crypto community members over Kamala’s plans is understandable, considering that Biden and his Vice President have targeted Blockchain-based companies in the past two years. He, however, is optimistic that Kamala will take a friendly approach to the crypto industry.
Kamala Harris’ Winning Odds Drop as Initial Hype Fades
Meanwhile, some crypto enthusiasts believe Kamala’s plans are only meant to hunt for votes after initial buzz over her candidature cooling down in recent weeks. When she was announced as the Democratic flagbearer, Harris saw her winning odds on Polymarket reach 51%, surpassing her closest rival, Donald Trump, who had led against Biden for several months.
However, data from the same platform shows Kamala’s winning odds have plummeted to 36%, while Trump’s have risen to 66%.
Speaking to crypto-focused media house Decrypt on Monday, Chief Marketing Officer at NFTCLT, Tony Bravado, said he would’ve believed the Vice President’s crypto plans two years ago, not at a time when she’s running for the presidency.
Moreover, she questioned her sole focus on Black men, arguing that she was only trying to win the votes from that specific group and not aiming to help the stumbling blockchain sector.
It is worth mentioning that Bravado travels across the United States, holding events at learning institutions to teach Black Americans about crypto, blockchain, and AI technology.
Bravado Criticizes Kamala Over Her ‘Gender Divide’ Approach
He says Kamala’s recent announcement could divide the Black community since her crypto plans have left out women, who also own cryptocurrencies. Bravado claims the Vice President is attempting to adopt a gender divide approach to weaken the Black community, thus making it difficult for Black men and women to come together to pursue meaningful causes.
That said, Bravado wants Kamala to promise a ‘racially neutral regulatory framework,’ which can benefit all crypto users in the United States. Interestingly, Kamala’s campaign team clarified last week that the Agenda meant for Black Men would benefit all US citizens.
As criticism over Kamala’s focus on Black men grows, Tonya Evans, a Professor at Penn State Dickinson, has come out to defend the Vice President, claiming that she’s only trying to respond to the specific needs of the Black community.
Evans says Kamala has shown a dedication to listening to Black men and addressing their needs by promising to protect their crypto investments. He argues that the crypto plans that will be adopted when she assumes office will likely benefit other races in the United States.
Trump and His Crypto Relationship
Unlike Kamala, Trump has been in the crypto space for several years. He even has his Blockchain-powered projects, including the World Liberty Financial DeFi protocol and numerous NFT collections.
The former US president has garnered massive support from the crypto community, and many hope his victory will help the blockchain industry in the United States flourish. In September, Trump promised to introduce policies that promote emerging technologies, such as blockchain.
