The administration under US President Joe Biden and Congressman Ro Khanna is like that Established to attend a roundtable on Bitcoin and cryptocurrencies next July in Washington, D.C., an important step that signals the growing importance of digital asset regulation and innovation.
Industry leaders, advocates, and critical policymakers will come together to discuss the future of digital assets in the United States at this high-level event. In a statement, Khanna’s office described the planned meeting as the most important meeting between policymakers and blockchain innovation leaders to date.
Cryptocurrency innovation must be kept within the United States
According to leaked reports from Bitcoin Magazine, the goal of the proposed discussion, which will be chaired by Congressman Ro Khanna from the United States, is to talk about how to preserve blockchain innovations and… Bitcoin locally. Given Khanna’s political affiliation, the impending roundtable signals a change in Washington’s stance toward the cryptocurrency sector and may also signal a decline in Democratic sentiment.
It is expected that officials from the Senate, House of Representatives, and the Biden administration will participate in the discussion, along with the American businessman Mark Cuban. Participants are expected to explore topics such as legal frameworks, economic impacts of cryptocurrency assets, and ways to foster innovation while maintaining consumer protection.
With the Biden administration’s involvement, the federal government shows that it recognizes the necessity of comprehensive and unambiguous rules in the field of cryptocurrencies. This event comes in light of rapid technological developments and increased volatility in the cryptocurrency market, which makes talking about regulatory clarity and stability more important than ever.
The Biden administration’s involvement comes as a shock to the entire cryptocurrency community, given President Joe Biden’s stance against digital assets over time. For the past four years, the administration has been hostile to Bitcoin and the digital asset industry.
President Biden recently vetoed a bill to repeal a controversial SEC circular setting accounting guidelines for companies holding cryptocurrencies. “My administration will not support measures that jeopardize the well-being of consumers and investors,” Biden said.
Furthermore, the Biden administration has also proposed a 30% tax on electricity used in Bitcoin miningWhich claims this will hinder the transition to low-emission energy sources.
Biden campaign is considering digital asset donations
The high-level meeting comes a few days later Reports It revealed that President Joe Biden’s campaign is in discussions with players in the cryptocurrency industry about accepting digital asset donations through Coinbase Commerce.
One can view this initiative as a response to former US President Donald Trump, given that Trump was the first to put forward the idea, which received a lot of attention in the cryptocurrency space.
According to anonymous sources, the discussion is the latest attempt by the Biden administration to investigate strategies to win over voters interested in cryptocurrencies before the upcoming election. with Digital assets Having become a major topic in this year’s election, both candidates appear to be vying for support of the expanding industry.
Featured image from iStock, chart from Tradingview.com