Heat the olive oil in a medium pot or heavy-bottomed skillet over medium-high heat.
Add the diced red onion and red bell pepper, sautéing for 3-4 minutes until the vegetables begin to soften.
Add the ground beef to the pot, breaking it up with a wooden spoon, and cook until it is fully browned.
Stir in the minced garlic, chili powder, smoked paprika, ground cumin, sea salt, and black pepper, cooking for 1 minute until fragrant.
Pour in the diced tomatoes (with their juices) and the rinsed black beans, stirring well to combine.
Reduce the heat to low, cover, and let the chili simmer for 15-20 minutes to allow the flavors to meld and the sauce to thicken.
Serve hot in a bowl, optionally garnished with fresh herbs or a squeeze of lime.