Kamala Harris advocates for pro-crypto regulations but fails to provide details again

US Vice President Kamala Harris has pledged to support digital asset policies that protect crypto investors, particularly black men participating in the sector.

The pledge was part of a broader agenda targeting men of color who the Democratic standard-bearer’s team believes could play a crucial role in November’s presidential elections.

Securing Black Voters via Crypto

In an October 14 statement, the Harris campaign promised that its candidate would create a crypto-friendly regulatory framework to protect “black men and others” who participate in the market.

Harris pointed out that 20% of Black people in the United States own or have previously owned crypto assets. She also recognized the role that these “new technologies” were playing in expanding their access to affordable banking and financial services, something they had been denied in the past.

However, the team provided no further details on what precisely the recommended regulatory framework would entail.

The candidate, who later spoke at an event in Erie, Pennsylvania, also did not elaborate on the plan. As observers noted, the vice president failed to even mention terms associated with the crypto industry, such as “blockchain” or “digital assets,” in her speech.

One critic, Nikolaus Hoffman of Bitcoin Magazine, called Harris “the worst candidate for Bitcoin,” calling her latest promise “race-based.”

The scribe compared his approach to Donald Trump’s, which he deemed “much better,” given that the former president had actually given specific details about what he intended to do for crypto .

Trump’s pro-crypto stance gains momentum

Team Harris itself had no kind words for Trump, saying he had “repeatedly demonstrated open contempt toward black Americans and black men.” However, the Republican candidate, who recently declared himself “Crypto President,” has made a lot of progress within the community.

After years of discrediting virtual assets, Trump apparently changed his mind during this election cycle. He embraced the industry wholeheartedly and promised to implement friendlier regulators as well as create a Bitcoin advisory board if he wins the presidential race.

Just last month, Trump made headlines when he visited PubKey, a New York bar that accepts crypto, and bought burgers.

The 78-year-old appears to be getting even more closely tied to the digital assets sector after his family spearheaded a new decentralized finance (DeFi) project called World Liberty Financial (WLF). The project is expected to start selling its native WLFI token as it seeks to raise $300 million.

Harris, for her part, had to shed the anti-crypto label that came with being part of the Biden administration.

The face of the Securities and Exchange Commission (SEC) administration, Gary Gensler, has become extremely unpopular in crypto circles for what some perceive as regulatory overreach in his oversight of the sector.