U.S. Congressman Ro Khanna from California’s 17th congressional district is gearing up to host a pivotal Bitcoin and blockchain roundtable in Washington D.C. in early July, as revealed in a confidential email obtained by Bitcoin Magazine.
Described as a groundbreaking event by Khanna’s Office, the roundtable is poised to bring together key policymakers and leaders in blockchain innovation. The anticipated participants include officials from the Biden Administration, House, and Senate, alongside prominent entrepreneur Mark Cuban. The main agenda of the meeting is to devise strategies for fostering the growth of Bitcoin and blockchain technology within the United States.
This initiative is believed to be a direct response to former President Donald Trump’s recent embrace of the Bitcoin industry. Trump notably became the first President to accept Bitcoin Lightning payments for campaign contributions, and has pledged to champion the advancement of Bitcoin and cryptocurrencies within America.
In contrast, the Biden Administration has taken a more adversarial stance towards the crypto sector. President Biden vetoed legislation in May that would have permitted heavily regulated financial institutions to handle Bitcoin and other digital assets. Furthermore, the Department of Justice made headlines in April for arresting individuals associated with a popular Bitcoin mixing service on money laundering charges.
Biden’s administration has also been critical of Bitcoin, equating crypto traders with wealthy tax evaders and proposing a significant tax on electricity utilized for Bitcoin mining. The push for a Central Bank Digital Currency (CBDC) has further underscored the administration’s reservations about decentralized cryptocurrencies.
The forthcoming roundtable organized by Congressman Khanna hints at a potential shift in Washington’s attitude towards the crypto industry, possibly signaling a more favorable outlook from democrats. Recent reports have even suggested that the Biden Administration is exploring the acceptance of cryptocurrency donations through platforms like Coinbase Commerce, aligning with Trump’s move to embrace crypto donations via Coinbase as well.
This upcoming event is poised to influence the course of crypto regulation and innovation in the United States, setting the stage for collaborative efforts between policymakers and industry leaders to drive the development of Bitcoin and blockchain technology on home soil.
