The Biden Administration will participate in a Bitcoin Roundtable with key congressional officials in Washington, DC
The proposed meeting, which is scheduled to be chaired by U.S. Congressman Ro Khanna, is intended to address the preservation of Bitcoin and blockchain innovation within the United States.
U.S. Congressman Ro Khanna, who represents California’s 17th congressional district, is scheduled to convene a Bitcoin and blockchain discussion in Washington D.C. in early July, in relation to a private email sent by Khanna’s office and obtained by Bitcoin Magazine.
Khanna’s Office characterized the forthcoming meeting as “the most significant encounter between policymakers and innovation leaders in blockchain to date.”
According to the email, the roundtable is anticipated to include representatives from the Biden Administration, House, and Senate, as well as American industrialist Mark Cuban. The primary goal of this meeting is to develop a strategy for “maintaining the innovation of blockchain and Bitcoin in the United States.”
Trump made a commitment to “end Joe Biden’s assault on crypto” and guarantee that the future of Bitcoin and crypto will be created in the United States last night. Trump also convened a roundtable in Mar-a-Lago earlier this week with some of the nation’s largest Bitcoin miners, and he committed to supporting Bitcoin mining on both the global and Washington D.C. stages.
The Biden Administration has maintained an antagonistic attitude toward the Bitcoin and crypto industries for the past four years. On May 31, President Biden vetoed legislation that would have permitted highly authorized financial institutions to custody Bitcoin and cryptocurrencies.
In April of this year, the Department of Justice (DOJ) made an arrest of the founders and CEO of the Samourai wallet, a well-known Bitcoin blending service, on charges of money laundering.
While advocating for a Central Bank Digital Currency (CBDC), Biden likened crypto traders to “rich tax evaders” in May 2023 and released an economic paper slamming Bitcoin and Proof of Work mining in March. The Biden Administration has also suggested a 30% levy on electricity used for Bitcoin mining, contending that it impedes the transition to a low-emission energy future.
Given Khanna’s political affiliation, this forthcoming roundtable may indicate a change in Washington’s stance toward the crypto industry and a potential increase in Democratic sentiment.
The Biden Administration is reportedly in discussions to accept crypto donations through Coinbase Commerce, a policy that is similar to that of the Trump administration, which began accepting donations through the platform earlier this week.
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