US Vice President Kamala Harris has recently committed to backing cryptocurrency regulations and digital assets in her latest economic proposal, as reported by various media outlets. This comes as Donald Trump, a pro-crypto Republican candidate, gains a lead in the polls. Harris’s proposal is seen as part of her strategy to appeal to Black male voters ahead of the upcoming elections.
In an effort to make Black men a central focus of her campaign, Harris has promised to work with Congress to legalize recreational marijuana, opening up opportunities for Black entrepreneurs in the growing cannabis sector. This new proposal is aimed at providing economic security, especially for Black men, and includes initiatives to assist them in starting businesses and securing jobs in the cannabis industry.
Harris also vowed to provide forgivable loans to Black entrepreneurs, offering up to $20,000 per person. These loans are intended to help those who have faced barriers to financing in starting their businesses. Additionally, Harris promised to create more apprenticeship and job opportunities if she wins the presidency.
A key part of her proposal is increasing Black Americans' access to the cryptocurrency market. Harris has pledged to support a regulatory framework for crypto, which would provide more certainty for the 20% of Black Americans who own or have owned digital assets. This push for crypto regulation aligns with her broader economic plan to promote financial growth and entrepreneurship in Black communities.
However, Harris's efforts come at a time when Donald Trump has surged ahead in the polls. While her popularity with Black voters is better than President Biden’s before he dropped out, the race remains tight. Harris faces significant competition, and Trump’s lead has grown in recent weeks.
Despite the challenging odds, several crypto industry leaders have backed Harris. Ripple’s co-founder, Chris Larsen, made headlines by donating $1 million worth of XRP to the Political Action Committee Future Forward USA, which supports Harris's campaign. This marked the first significant crypto donation to her candidacy, reflecting growing support from some in the crypto sector.
Trump's lead in the polls has grown by 10% since early October, despite Harris’s efforts to win over Black voters and her strong focus on the crypto industry. Whether Harris's new economic proposals will help her close the gap remains to be seen, but the race is shaping up to be highly competitive.
