By Stacy M. Brown
NNPA Senior National
Correspondent
In a recent appearance on Let It Be Known News, Professor Tonya M. Evans—an expert in fintech law at Penn State Dickinson Law and a prominent figure in digital asset strategy—discussed the evolving landscape of cryptocurrency, particularly its impact on Black America. As an advisor on fintech policy through her company Advantage Evans, LLC, and a board member of Digital Currency Group, Evans is deeply invested in guiding Black investors through the complex world of cryptocurrency.
Evans’ insights align with the ongoing discussions surrounding her recent Forbes article, “Can the Crypto Industry Survive Trump’s Agenda 47 and Project 2025?” She highlighted the friction between the government’s regulatory initiatives, prioritizing national sovereignty, and the decentralized ideals at the heart of digital currencies like Bitcoin.
In the face of increasing hype and misinformation, Evans encouraged Black investors to pursue a clear understanding of cryptocurrency, noting that education is key. “There are several trusted resources available to help investors learn more about crypto risks and rewards,” she advised. She added that thorough research and skepticism toward “get rich quick” schemes are vital for protection against scams.
The potential of cryptocurrency to bridge the racial wealth gap remains a key topic among Black investors. With low entry barriers, crypto promises accessibility, yet without serious consumer protections, it remains fraught with risk. Evans emphasized the need for Black investors to adopt strategies for minimizing losses amid volatility, advising the establishment of backup plans to protect investments. For Black families, staying informed about new regulations is essential, as crypto’s largely unregulated market can make it challenging to avoid financial pitfalls.
“Cryptocurrency was marketed as a tool for financial freedom for Black Americans—a way to bypass banks, build wealth, and close the racial wealth gap,” Evans noted. However, after the 2022 market crash, that promise faded for many. While Bitcoin remains a significant player, a lack of solid consumer safeguards leaves Black investors vulnerable to yet another risk cycle.
Political dynamics further complicate this landscape. With the influence of crypto-backed super PACs in the 2024 election, millions have been funneled to maintain light regulations. Evans observed that crypto’s sway in Washington benefits those who can bear financial risk, underscoring the uneven playing field that often excludes marginalized communities.
As Donald Trump prepares to re-enter the presidency, his pivot from denouncing cryptocurrency as a “scam” to launching his own platform, World Liberty Financial (WLFI), raises questions about ethics and transparency in the rapidly expanding digital asset market. Critics argue that Trump’s venture into crypto could be less about financial innovation and more about political and personal gain, especially as he positions WLFI as a groundbreaking platform despite the involvement of controversial figures.
