Biden Administration’s Plan to Participate in Bitcoin Roundtable with Congressional Leaders in Washington DC Revealed

Congressman Ro Khanna from California’s 17th congressional district is organizing a Bitcoin and blockchain roundtable in Washington D.C. in early July. According to an email from Khanna’s Office, the meeting will bring together policymakers and innovation leaders in the blockchain space, with officials from the Biden Administration, House, Senate, and Mark Cuban expected to attend. The goal of the roundtable is to discuss strategies to keep Bitcoin and blockchain innovation thriving in the United States.

This initiative comes in response to former President Donald Trump’s recent endorsements of the Bitcoin industry. Trump has made significant strides in supporting Bitcoin, becoming the first President to accept Bitcoin Lightning payments for campaign donations. He has also pledged to “end Joe Biden’s war on crypto” and ensure that the future of Bitcoin and crypto technology is developed in America. Trump recently hosted a roundtable with Bitcoin miners and vowed to support Bitcoin mining activities in Washington D.C. and globally.

The Biden Administration has taken a more hostile stance towards the Bitcoin and crypto industry, vetoing legislation that would have allowed highly regulated financial institutions to custody Bitcoin and cryptocurrencies. The Department of Justice has also made arrests in the crypto space, such as the founders of the Samourai wallet, on charges of money laundering. President Biden has criticized crypto traders as “wealthy tax evaders” and published economic reports critical of Bitcoin and Proof of Work mining, while advocating for a Central Bank Digital Currency (CBDC) and proposing a tax on electricity used for Bitcoin mining.

The upcoming Bitcoin and blockchain roundtable organized by Congressman Khanna signals a potential shift in Washington’s approach to the crypto industry, reflecting a possible warming of sentiment among Democrats. The Biden Administration is reportedly considering accepting crypto donations through Coinbase Commerce, following in Trump’s footsteps who also started accepting donations through Coinbase. This roundtable could pave the way for more positive policies towards Bitcoin and blockchain innovation in the United States.

Overall, the Bitcoin and blockchain roundtable organized by Congressman Ro Khanna is a significant step towards bridging the gap between policymakers and innovators in the crypto industry. With key officials from the Biden Administration, House, Senate, and prominent figures like Mark Cuban expected to attend, the meeting presents an opportunity to strategize on how to keep Bitcoin and blockchain innovation thriving in the United States. This initiative comes in response to recent endorsements of the Bitcoin industry by former President Donald Trump, signaling a potential shift in Washington’s approach to the crypto industry. The roundtable could represent a turning point in policymaking towards Bitcoin and crypto technology, especially considering the recent hostilities from the Biden Administration towards the industry. The potential acceptance of crypto donations by the Biden Administration through Coinbase Commerce demonstrates a growing recognition of the value of Bitcoin and blockchain technology in the American economy.