The Race Card? Harris Draws Flak After Promising To Support Black Americans Using Crypto

Vice President Kamala Harris has published her agenda for the Black male community in the United States, and in it, she promised to back efforts toward establishing a regulatory framework for the cryptocurrency industry.

This is the first time she specifically mentioned crypto in her presidential campaign plan, signaling a potential turnaround with just weeks left before the much-anticipated elections.

Harris Promises to 'Deliver' for Black Men

In the opportunity agenda documents published Monday, the Harris campaign said the vice president, if she wins in November, will provide the Black male community "with the tools to achieve financial freedom, lower costs to better provide for themselves and their families, and protect their rights."

As part of the efforts toward lifting up Black American males, the VP said she will work toward "supporting a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected."

Harris said she wants to "deliver" for the Black male community and enable those who hold digital assets "to benefit from financial innovation," marking what could be the most forward-looking statements she has ever made since being nominated by the Democratic Party.

"More than 20% of Black Americans own or have owned cryptocurrency assets. Vice President Harris appreciates the ways in which new technologies can 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 agenda stated.

'Shameful' to Tie Crypto to Race?

The agenda's release has drawn ire among many crypto users who questioned why Harris has chosen the path of associating crypto with a specific demographic in her bid to win crypto voters.

"Only the Democrat mind can somehow find a way to tie crypto into race. Beyond shameful. Embarrassing is an understatement," well-followed Autism Capital wrote.

Many others had similar concerns, with some pointing out that blockchain technology doesn't discriminate one's race and "everyone is equal" when using the technology.

Breaking Biden Bonds

On the other hand, Democratic Rep. Wiley Nickel of North Carolina made a point when he said that by making her crypto stance clearer, the vice president is "breaking with the Biden administration on crypto."

Nickel noted that it was now time to "move beyond [SEC Chair] Gary Gensler's backwards approach" toward regulating crypto to balance consumer protection and digital innovation in the country.

The Gensler SEC has been implementing an enforcement-first approach toward crypto regulation that has drawn criticism from the crypto community. Gensler was nominated by outgoing President Joe Biden.

It remains to be seen how things will play out for the Harris campaign in terms of getting crypto voters on her side. So far, many crypto communities have expressed support for GOP frontrunner Donald Trump, who has repeatedly promised in recent months that he will support Bitcoin and the broader crypto space.

Ethereum co-founder Vitalik Buterin has warned against blindly voting for candidates based on their declaration of support for the industry.