Breaking: Kamala Harris Urged To Host Crypto Policy Roundtable In October

Kelvin Munene Murithi
October 1, 2024 Updated October 2, 2024
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Kamala Harris Loses: US Presidential Election Results 2024 Highlights

Highlights

  • Over 20 crypto leaders urge Kamala Harris to discuss Web3 policy inclusivity.
  • Crypto advocates call for regulatory balance to boost U.S. innovation and inclusion.
  • Vice President Kamala Harris promises to maintain US supremacy.

Vice President Kamala Harris’ campaign team has been sent a letter by a group of Web3 and decentralized finance (DeFi) leaders requesting a meeting. They are looking to debate on measures that can foster innovation in the US blockchain and cryptocurrency markets without leaving anyone behind.

The letter, sent on Tuesday, was signed by more than 20 members of the crypto industry such as Cleve Mesidor of the National Policy Network WOC Blockchain and Olayinka Odeniran of the Black Women Blockchain Council. The signers stressed the importance of policies that enable all kinds of creators and guarantee that US continues to dominate the Web3 frontier.

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Kamala Harris Urged To Host Crypto Policy Roundtable

In their letter, the group urged the Kamala Harris-Walz campaign to participate in a conversation on the parameters for a regulatory environment that would enable such innovation in Web3 and DeFi.

They called for the establishment of rules that can support consumer protection and at the same time foster financial access and capital accumulation.

The leaders complained that the current policies put in place have made it hard for the vulnerable groups to get into cryptocurrencies. The signers noted that people of color including the black, Latino, Asian American and Indigenous are the early adopters of crypto but are still excluded from the traditional financial system.

Concurrently, they demanded for an inclusion of their voices in the policy making process so as to be part of the decision making forum.

“We want a seat at the policy table and a say in the regulatory debate,” they wrote. “Diverse communities have been integral to the success of this industry since its early days.”

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Policy Recommendations for an Inclusive Web3 Market Structure

The letter to the Vice President made several policy suggestions, among which were the improvement of market conditions and the provision of funding opportunities for various entrepreneurs in Web3. The leaders called for stronger enforcement of rules that govern decentralized exchange listings and prevent exclusion of products from various developers.

The decentralized finance leaders also recommended alterations to the Small Business Administration (SBA) 7(a) Loan Program and recommend its expansion to cover businesses that are utilizing blockchain and other cutting edge technologies. The letter suggested the SBA Emerging Technologies & Digital Equity Loan program to foster new business and provide funding to a diverse business base.

Besides capital, the decentralized finance leaders also called for workforce development together with financial education to foster the growth of the crypto and blockchain industries. They called for increased spending on vocational education to prepare workers for jobs in the growing digital economy, which often doesn’t need university graduates.

The leaders also urged the federal government to provide funding for financial literacy initiatives with a focus on digital assets. They proposed that the Consumer Financial Protection Bureau should allocate the funds to the grants that can help people to learn more about blockchain and cryptocurrency.

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Kamala Harris Pledges U.S. Dominance

This letter comes as Vice President Kamala Harris has already promised to maintain US supremacy in such fields as blockchain and AI. She has underlined the idea of an ‘opportunity economy,’ where entrepreneurship and innovation go hand in hand with consumer rights.

Mark Cuban, the billionaire entrepreneur also endorsed Harris and cited her stance against the regulation-by-enforcement by the Securities and Exchange Commission (SEC) as a primary reason for his support. 

He pointed out that Harris’ position against regulation through litigation may pave the way for a less legalistic approach and thereby accelerate the development of the U.S. crypto market.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.