Kamala Harris faces backlash over race-focused crypto plan

10/24/2024 04:15
Kamala Harris faces backlash over race-focused crypto plan

Cryptocurrency advocates weigh in on Harris’ proposal, criticizing its focus on race and voter demographics.

Vice President Kamala Harris recently introduced a cryptocurrency policy plan that has sparked varied reactions, particularly around its focus on race and demographics.

Roundtable anchor, Rob Nelson, led the discussion with Sam Price, host of Crypto Lifer, and David Gokhshtein, founder of Gokhshtein Media. The conversation centered on Harris’ approach to targeting specific voter groups through crypto policy, and how this intersects with broader political and cultural themes in the crypto space.

Though she hasn't made much of her crypto plans known, last week her campaign announced her "opportunity agenda for Black men" which included a desire to better regulate cryptocurrency to protect Black men and others who invest in digital assets.

Rob Nelson questioned the intent behind Harris’ plan, noting, “A lot of her policy… has been driven toward [black voters.] That’s politics.” While he expressed some openness to using cryptocurrency as an investment tool, Nelson added, “I’m not even sure what she was doing here, but I like the idea.”

Sam Price took a cautiously optimistic stance, saying, “Any pro-bitcoin rhetoric is good for me,” but he remained skeptical of the government’s track record. Price commented, “As much as I want to be positive… they’ve had four years to show us that they can help and I haven’t seen it.” He also stressed the importance of innovation for younger generations, warning that overregulation could stifle future progress.

David Gokhshtein was more critical, emphasizing how politics has invaded the crypto space. He remarked, “They made it political, not us,” specifically calling out Senator Elizabeth Warren’s anti-crypto stance. Gokhshtein also criticized Harris’ focus on racial politics, saying, “What are you talking about, Kamala? We don’t even have this in crypto… It’s very disrespectful to a community that literally is holding hands with each other.”

Rob Nelson agreed that the politicization of cryptocurrency has complicated the space, stating, “We’ve made this into a political space when it wasn’t meant to be and ultimately it serves no purpose to politicize it.”

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