Bitcoin and Crypto Front: Biden Administration Attends Key Roundtable in Washington

Administration under US President Joe Biden and Congressman Ro Khanna planned attending the Bitcoin and cryptocurrencies round table this July in Washington, DC, which is an important step that shows the growing growth of digital asset management and innovation.

Industry leaders, influencers, and key policymakers will gather to discuss the future of digital assets in the US at this high-profile event. In a statement, Khanna’s office called the planned gathering the most important meeting between policymakers and blockchain innovation leaders to date.

Cryptocurrency Innovation Will Keep Inside the US

According to leaked reports from Bitcoin Magazine, the purpose of the proposed discussion, which will be chaired by Congressman Ro Khanna from the United States, is to talk about how to maintain blockchain innovation and Bitcoin at home. Given Khanna’s political affiliation, the table below shows a shift in Washington’s attitude toward the cryptocurrency sector and may indicate a softening of the Democratic Alliance’s sentiment.

Officials of the Senate, the House, and the administration of Biden are expected to participate in the discussion, as well as the American businessman. Mark Cuban. It is expected that participants will explore topics such as legal frameworks, the economic implications of cryptocurrency assets, and ways to encourage innovation while maintaining consumer protection.

With the involvement of the Biden Administration, the federal government is showing that it recognizes the need for comprehensive and consistent crypto regulations. This event comes as a result of rapid technological development and increased volatility of the crypto market, making the discussion about regulatory clarity and stability more important than ever.

The involvement of the Biden administration comes as a shock to the entire cryptocurrency community, given President Joe Biden’s stance against the digital asset over time. Over the past four years, executives have been opposing Bitcoin and the digital asset industry.

President Biden recently vetoed a bill to overturn a controversial report by the Securities and Exchange Commission outlining accounting guidelines for companies that hold cryptocurrencies. “My administration will not support measures that jeopardize the welfare of consumers and investors,” Biden said.

In addition, the Biden Administration also proposed a 30% tax on electricity used for Bitcoin miningwho say this will hinder the transition to low-emission energy sources.

Biden Campaign Considers Digital Asset Donations

A high-level meeting is coming up in a few days reports revealed that President Joe Biden’s campaign is in talks with cryptocurrency industry players about accepting donations of digital assets through Coinbase Commerce.

One can see this step as a reaction to the former US president Donald Trump, as Trump was the first to implement this idea, which received significant interest in the crypto space.

According to anonymous sources, the conversation is the latest attempt by the Biden administration to investigate strategies to win over crypto-loving voters before the upcoming election. With digital assets being the main topic of this year’s election, it seems that both candidates are fighting for the support of the growing industry.

Featured image from iStock, chart from Tradingview.com