LEAKED: Biden Administration to Participate in Exclusive Bitcoin Roundtable With Key Congressional Officials in DC
U.S. Congressman Ro Khanna, who represents California’s 17th congressional district, is organizing a groundbreaking Bitcoin and blockchain roundtable in Washington D.C. in early July, as revealed in a confidential email obtained by Bitcoin Magazine.
Khanna’s Office has described the upcoming event as “the most significant gathering to date between policymakers and blockchain innovators.” The roundtable is expected to bring together officials from the Biden Administration, House, and Senate, as well as renowned entrepreneur Mark Cuban. Its primary aim is to strategize on how best to foster Bitcoin and blockchain innovation within the United States.
This initiative appears to be in response to former President Donald Trump’s recent embrace of the Bitcoin industry. Trump now holds the distinction of being the first President to accept Bitcoin Lightning payments for campaign donations. He has recently pledged to “put an end to Joe Biden’s war on crypto” and ensure that the future of Bitcoin and cryptocurrency is made in America. Just a few days ago, Trump hosted a roundtable at Mar-a-Lago with some of the country’s largest Bitcoin miners, underlining his support for Bitcoin mining both domestically and internationally.
Over the past four years, the Biden Administration has taken a somewhat adversarial stance towards the Bitcoin and crypto industry. In May, President Biden vetoed legislation that would have allowed heavily regulated financial institutions to offer custody services for Bitcoin and other cryptocurrencies. Additionally, the Department of Justice (DOJ) has arrested the founders and CEO of the popular Bitcoin mixing service, Samourai wallet, on charges of money laundering. President Biden has even likened crypto traders to “wealthy tax evaders” and his administration published a critical economic report on Bitcoin and Proof of Work mining, while advocating for the development of a Central Bank Digital Currency (CBDC). The proposed 30% tax on electricity used for Bitcoin mining is another example of the administration’s skepticism towards the industry.
The upcoming roundtable, hosted by a Democratic representative, indicates a potential shift in sentiment towards the crypto industry among Democrats in Washington. Furthermore, reports have emerged this week suggesting that the Biden Administration is exploring the acceptance of crypto donations through Coinbase Commerce, following in the footsteps of Trump, who also utilized Coinbase for campaign contributions. These developments suggest a changing landscape for cryptocurrencies within the U.S. government.