Regulation
Biden administration officials, congressional leaders reportedly set to attend crypto industry meeting – DL News
- Key Democrats will attend a meeting on the crypto industry, Bitcoin Magazine reports.
- The meeting will examine ways to keep Bitcoin and blockchain innovation in the United States.
- The Biden administration may change its stance on the crypto industry, according to a report.
California Democratic Congressman Ro Khanna to Hold Meeting on Keeping Bitcoin and blockchain innovation in the United States, according to a private email sent by Khanna’s office and seen by Bitcoin Magazine.
The Washington DC event planned for early July was described in the email as “the most important meeting to date between policymakers and innovation leaders in the blockchain space,” the report said .
Officials from the Biden administration, the House and Senate, as well as businessman Mark Cuban will be present, according to the report, which notes that the initiative could be seen as a response to recent support for the former President Donald Trump to the crypto industry.
Earlier this month, Trump would have said he would be a ‘crypto president’ while criticizing Democrats’ regulation of the industry at an exclusive San Francisco fundraiser that netted him $12 million in the run-up to the 2015 election. november.
As crypto has become a political issue, with groups raising tens of millions of dollars to support crypto-friendly candidates, Brian Armstrong, co-founder and CEO of Coinbase, last week refused to take sides. DL News reported.
“Both sides recognize that they need to solve this problem,” he said, adding: “Crypto is here.”
Armstrong also mentioned that he recently traveled to Washington to speak with as many as 13 senators.
“We need clear rules in the United States,” he said in reference to cryptocurrency regulation. “The current situation is untenable.”
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President Joe Biden in late May vetoed a resolution that would have abolished Securities and Exchange Commission guidelines that make it difficult for crypto companies to work with banks, and which, to date, has been significantly less pro-crypto than its opponent.
Still, the upcoming meeting could signify a policy shift in the administration’s approach to the crypto industry, according to Bitcoin Magazine.
Crypto market players
- Bitcoin is up 0.34% today at $66,265.69.
- Ethereum is up 1.01% today at $3,565.17.