On Thursday, top crypto leaders met with White House officials to talk about U.S. cryptocurrency regulations and express concerns about the SEC’s actions under Gary Gensler.
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Hosted by Rep. Ro Khanna, the meeting included Biden administration representatives and figures from the crypto industry. They discussed key policies and regulations, including the possibility of removing SEC Chair Gary Gensler.
Key Figures Meet to Discuss U.S. Crypto Regulations and SEC Concerns
The meeting, which took place on Thursday, was attended by key figures from both the U.S. government and the cryptocurrency industry. U.S. Deputy Secretary of the Treasury Wally Adeyemo, National Economic Council Director Lael Brainard, and White House Deputy Chief of Staff Bruce Reed were present. Kristine Lucius, Director of Legislative Affairs for Vice President Kamala Harris, also joined the discussion.
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From the crypto side, notable attendees included Ripple’s CEO Brad Garlinghouse, Uniswap’s Hayden Adams, Circle’s CEO Jeremy Allaire, and billionaire Mark Cuban.
During the meeting, cryptocurrency executives voiced their concerns about the current legal framework, particularly regarding the SEC’s approach in the U.S. The discussion also touched on the possible dismissal of SEC Chairman Gary Gensler, reflecting the industry’s dissatisfaction with what they view as aggressive actions against digital assets.
Harris-Adeyemo Appointment Sparks Crypto Regulation Concerns
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There is speculation that Vice President Kamala Harris might consider Wally Adeyemo for the Treasury Secretary position if she becomes president. Adeyemo, the current Deputy Treasury Secretary, has been a vocal critic of the cryptocurrency industry, citing concerns about its potential use for criminal activities and its threat to national security. His possible appointment has raised worries within the crypto community about increased regulation and enforcement.
In contrast, Donald Trump has promised that his first action upon taking office would be to fire Gary Gensler, the current SEC Chair. This stance is supported by some in the crypto industry, including Gemini co-founder Cameron Winklevoss, who has urged Harris to support the sector by removing Gensler. John Deaton has echoed this sentiment, encouraging Harris to demonstrate her support for the crypto industry by advocating for Gensler’s removal.
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Crypto Industry Navigates Political Landscape as 2024 Election Approaches
As the 2024 election campaign intensifies, the cryptocurrency industry is aiming to present its concerns as non-partisan. While Donald Trump has been notably supportive of cryptocurrency, Kamala Harris has been less vocal on the subject, though her team has recently begun engaging with the crypto sector.
Crypto analyst Ali Martinez commented on the political climate, noting, “Oh man! The chances of a pro-Bitcoin president are looking slim, with Trump odds at 50 and Kamala at 49.”
Source: X
As things heat up, Donald Trump has agreed to join several live debates with Kamala Harris in September. Meanwhile, Trump Jr. and Eric Trump have reported that scammers are pretending to be them, hinting that a new crypto-related project from the Trump family might be on the way.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
