July 14, 2024
1 Solar System Way, Planet Earth, USA
Crypto

LEAKED: Biden Admin to Attend Bitcoin Roundtable with Key Congressional Officials in DC

US Congressman Ro Khanna, who represents California's 17th Congressional District, will host a roundtable discussion on Bitcoin and blockchain in Washington DC in early July, according to a private email sent by Khanna's office, seen by Bitcoin Magazine.

Khanna's Office described the upcoming meeting as “the most important meeting between policymakers and blockchain innovation leaders to date.”

Officials from the Biden Administration, House and Senate are expected to participate in the roundtable, along with American businessman Mark Cuban, according to the email. The main goal of this meeting is to strategize on how to “maintain Bitcoin and blockchain innovation in the United States.”

This initiative is seen as a response to former President Donald Trump's recent endorsement of the Bitcoin industry. Trump has recently Become the first president to accept Bitcoin Lightning payments for campaign donations.

Last night Trump fiance to “end Joe Biden's war on cryptocurrencies” and ensure that the future of Bitcoin and cryptocurrencies is made in the United States. Earlier this week, Trump also hosted a roundtable at Mar-a-Lago with some of the country's largest Bitcoin miners, and engaged to support Bitcoin mining both in Washington DC and on the global stage.

Over the past four years, the Biden Administration has taken a hostile stance toward the Bitcoin and cryptocurrency industry. Recently, on May 31, President Biden banned legislation that would have allowed highly regulated financial institutions to custody Bitcoin and cryptocurrencies.

The Department of Justice (DOJ) has also arrested The founders and CEO of Samourai Wallet, a popular Bitcoin mixing service, charged with money laundering, in April of this year.

In May 2023, Biden compared cryptocurrency traders to “rich tax evaders” and, in March, their administration published an economic report highly critical of Bitcoin and proof-of-work mining while promoting a central bank digital currency (CBDC). The Biden Administration has also proposed a 30% tax on electricity used for Bitcoin mining, arguing that it hinders the transition to a low-emissions energy future.

This upcoming roundtable signals a shift in Washington's approach toward the cryptocurrency industry and could represent a warming of sentiment among Democrats, given Khanna's party affiliation.

Earlier this week, it was reported that the Biden Administration is in talks to accept crypto donations through Coinbase Commerce, following Trump, who also began accepting donations through Coinbase.

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