Regulation
Mark Cuban and Brad Garlinghouse set to talk cryptocurrency at Democratic roundtable this week
Key points to remember
- Mark Cuban had previously criticized the SEC’s approach, suggesting its potential impact on the 2024 elections.
- Ro Khanna’s roundtable aims to strengthen ties with the crypto industry.
Share this article
Democrat Ro Khanna is hosting an exclusive roundtable focused on cryptocurrency in Washington this Wednesday, Fox Business reporter Eleanor Terrett reiterated in a recent article. jobThe event will feature several high-profile figures, including billionaire entrepreneur Mark Cuban, Ripple CEO Brad Garlinghouse and SkyBridge Capital founder Anthony Scaramucci, Terrett reported in a separate statement. job.
Cuban is a strong advocate for cryptocurrencies and the crypto industry. He believes that clear regulation of cryptocurrencies by Congress ahead of the 2024 US presidential election could help secure another term for President Biden, as crypto voters will be an influential factor.
The billionaire criticized the SEC’s current approach to enforcement under Chairman Gary Gensler, saying it could jeopardize Biden’s campaign.
The roundtable represents Khanna’s efforts to protect the crypto industry from a possible takeover by Donald Trump.
Trump has publicly expressed his strong support for Bitcoin and the cryptocurrency industry in recent months. He has promised to reduce regulatory constraints and end what he calls “Biden’s war on cryptocurrency.”
Meanwhile, the Democratic Party has been slower to embrace the crypto industry than Republicans.
With the upcoming meeting, Khanna wants to strengthen ties with the crypto industry and appeal to crypto voters. The congressman has a history of supporting crypto-friendly legislation, such as the FIT21 (Financial Innovation and Technology for the 21st Century Act).
Approved Passed by the House in May, the FIT21 bill seeks to establish a clearer division of jurisdiction between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing the digital asset ecosystem.
Executives from Coinbase, Kraken, Circle, Andreessen Horowitz, former CFTC Chairman Chris Giancarlo, as well as Democratic lawmakers and White House officials are also expected to attend Khanna’s roundtable.
Rumors are swirling that White House officials, including Biden’s chief of staff Jeff Zients and White House adviser Carole Hause, were involved. Hause has been involved in shaping cryptocurrency regulations in the Biden administration.
Share this article