In a significant development for the cryptocurrency industry, members of the Biden administration, along with other prominent figures, are set to attend a crypto policy roundtable hosted by Representative Ro Khanna (D-CA). The focus of the discussion will be on maintaining Bitcoin and blockchain innovation within the United States.
Biden Administration and Crypto Advocates to Discuss Policy
According to a report from Bitcoin Magazine, the upcoming roundtable will bring together Biden administration officials, billionaire Mark Cuban, and lawmakers from both the House and Senate. The goal is to address the administration’s stance on cryptocurrency and explore ways to foster continued growth and innovation in the sector.
“The focus of the discussion will be how to keep ‘Bitcoin and blockchain innovation in the United States,’ the report states.”
Representative Khanna, known for his pro-crypto stance, has recently voiced support for the House-passed FIT21 bill, which would grant the Commodity Futures Trading Commission (CFTC) new jurisdiction over “digital commodities” while establishing regulatory frameworks at the Securities and Exchange Commission (SEC).
Billionaire Mark Cuban has also been vocal in his communications with the Biden administration, speculating that the president’s stance on crypto could impact the 2024 election.
Democrats have delivered on innovation and entrepreneurship with the CHIPS and Science Act and the IRA. The White House should also support @PatrickMcHenry's FIT21 Act to bring regulatory clarity for blockchain and crypto and support those jobs here in the US. pic.twitter.com/R5mJUGvzKn
— Rep. Ro Khanna (@RepRoKhanna) June 3, 2024
Trump Reiterates Support for Crypto
Meanwhile, former President Donald Trump has once again expressed his support for the cryptocurrency industry. During a campaign event in West Palm Beach, Florida, Trump pledged to “end Joe Biden’s war on crypto” and ensure that the “future of crypto and the future of Bitcoin will be made in America.”
Trump’s remarks come as he reportedly met with representatives from Bitcoin mining companies, such as CleanSpark, to discuss the industry’s potential in the United States.
Overall, the upcoming crypto policy roundtable hosted by Representative Khanna represents a significant opportunity for the industry to engage with the Biden administration and other key stakeholders. As the 2024 presidential election approaches, the role of cryptocurrency in the political landscape is likely to be a crucial topic of discussion.