The White House is showing increasing interest in Biden Bitcoin policy and how it can shape the future of cryptocurrency regulation.
The Biden administration is reportedly scheduled to attend a Bitcoin roundtable in early July with several lawmakers, including U.S. Congressman Ro Khanna (D-CA) and billionaire crypto investor Mark Cuban, according to documents obtained by Bitcoin Magazine on May 15.
Ro Khanna, Mark Cuban And More To Attend Meeting On Bitcoin Regulation
The media outlet says it verified an email from the office of Khanna allegedly confirms the meeting, with the Khanna’s office describing it as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
According to Bitcoin Magazine, the purpose of the meeting is to “keep Bitcoin and blockchain innovation in the United States.”
Both Khanna and Cuban have advocated for regulatory reform across the cryptocurrency sector, with the Californian congressman most recently supporting the Financial Innovation and Technology for the 21st Century Act (FIT21).
“We need blockchain innovation here in America, while also creating regulatory clarity & proper consumer protections,” Khanna said, calling the bill “an important step forward.”
Joe Biden, Donald Trump Differ On Bitcoin As Polls Narrow
Meanwhile, Cuban has echoed similar sentiments, particularly in regards to how current crypto regulations may affect the November 2024 U.S. presidential election.
During Coinbase’s State of Crypto event last week, the “Shark Tank” star claimed that United States Securities and Exchange Commission (SEC) Chair Gary Gensler could “literally cost Joe Biden the election.”
The current U.S. president has often stood in favor of the SEC’s regulation-by-enforcement approach to digital assets, despite Republican frontrunner Donald Trump’s hands-off stance towards the crypto sector.
Most recently, Biden stopped short of vetoing FIT21, a marked shift in tone from his past statements regarding developing blockchain regulations.
“The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system,” a statement from Biden’s administration following the House of Representatives’ passage of FIT21 said.
Trump, on the other hand, promised to end Biden’s “war on crypto” by ensuring that “the future of Bitcoin will be made in America” in June 14 remarks in West Palm Beach, FL.
Currently, Biden and Trump are virtually tied in election polling, making their each and every stance urgently more critical in the run up to November.
