Harris’ Opportunity Economy and Crypto Support

According to Harris’ campaign co-chair Cedric Richmond, this move is part of her “Opportunity Economy” promise. Richmond said Harris aims to build an economy where black men are equipped with the tools they need to own homes, support their families, start businesses, and build wealth.

Harris’ approach to cryptocurrency appears to have softened since the start of her campaign. For example, Ripple co-founder Chris Larsen donated nearly $1 million worth of XRP to the Harris-Walz 2024 presidential campaign. This has led to the perception of Harris as a candidate open to bipartisanship on regulating digital assets.

However, not everyone associated with the Harris campaign is positive about this “crypto opening.” Some community members are skeptical of Harris’ moves toward crypto, with the phrase “protecting cryptocurrency ownership” in her campaign documents standing out. Harris is promising to create a regulatory framework that aims to protect crypto owners and provide security for their assets.

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These steps suggest that Harris is aiming to grow support among the crypto community, especially among black entrepreneurs.

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The organizers, including the Blockchain Foundation, hope to make a statement about the role of crypto in the Democratic Party’s agenda and potentially influence Harris to support the crypto sector, particularly by providing greater access to capital for people of color.

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This initiative reflects some support within the crypto industry for Harris, despite her relatively quiet stance on the issue compared to Donald Trump. The event is also intended to foster discussions about how a potential Harris administration could back the sector.

Under the current Biden administration, the U.S. Securities and Exchange Commission (SEC) has taken enforcement actions against several major crypto firms, citing violations of securities laws. This fundraiser follows a virtual town hall in August by another group, Crypto4Harris, which also supports Harris’ campaign.

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