Key Takeaways
- Biden Admin to join Bitcoin roundtable led by Rep. Ro Khanna.
- Trump has endorsed Bitcoin, accepting Lightning payments for donations.
- Biden vetoed legislation for regulated Bitcoin custody by financial institutions.
U.S. Congressman Ro Khanna, representing California’s 17th district, will host a major Bitcoin and blockchain roundtable in Washington D.C. in early July. According to a private email from Khanna’s office, the meeting is described as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
The roundtable will feature officials from the Biden Administration, the House, and the Senate, along with American businessman Mark Cuban. The primary objective is to strategize on how to “keep Bitcoin and blockchain innovation in the United States.”
Following Trump
This initiative follows former President Donald Trump’s recent endorsements of the Bitcoin industry.
Trump has become the first President to accept Bitcoin Lightning payments for campaign donations. He has pledged to:
End Joe Biden’s war on crypto
Trump has claimed he wants to ensure that the future of Bitcoin and crypto will be made in America. Trump also hosted a roundtable with top Bitcoin miners, committing to support Bitcoin mining both in Washington D.C. and globally.
Potential shift in Biden’s stance
For the past four years, the Biden Administration has maintained a hostile stance toward the Bitcoin and crypto industry.
Recently, President Biden vetoed legislation that would allow financial institutions to custody Bitcoin and cryptocurrencies. The Department of Justice also arrested the founders of the Samourai wallet for money laundering.
President Biden has also proposed a 30% tax on electricity used for Bitcoin mining.
This upcoming roundtable indicates a potential shift in Washington’s approach to the industry, possibly signaling a warming sentiment among Democrats.
