Over
the
weekend,
Bitcoin
Magazine
reported
that
US
Congressman
Ro
Khanna,
representing
California’s
17th
congressional
district,
is
set
to
host
a
Bitcoin
and
blockchain
roundtable
in
Washington,
D.C.,
in
early
July,
according
to
a
private
email
sent
by
Khanna’s
office
and
seen
by
Bitcoin
Magazine.
Khanna’s
office
reportedly
described
the
upcoming
meeting
as
“the
most
significant
meeting
between
policymakers
and
innovation
leaders
in
blockchain
to
date.”
Bitcoin
Magazine
expects
the
meeting
to
feature
officials
from
the
Biden
Administration,
House,
and
Senate,
alongside
American
businessman
Mark
Cuban,
according
to
the
email.
The
primary
objective
of
this
meeting
is
to
strategize
on
how
to
“keep
Bitcoin
and
blockchain
innovation
in
the
United
States.”
This
initiative
is
seen
as
a
response
to
former
President
Donald
Trump’s
recent
endorsements
of
the
Bitcoin
industry.
Trump
has
recently
become
the
first
President
to
accept
Bitcoin
Lightning
payments
for
campaign
donations.
Former
President
Donald
Trump
has
experienced
a
dramatic
shift
in
stance
towards
cryptocurrencies,
moving
from
vocal
critic
to
ardent
supporter.
In
2019
Trump
said,
“I
am
not
a
fan
of
Bitcoin
and
other
Cryptocurrencies,
which
are
not
money,
and
whose
value
is
highly
volatile
and
based
on
thin
air.
Unregulated
Crypto
Assets
can
facilitate
unlawful
behavior,
including
drug
trade
and
other
illegal
activity….”
The
transformation
in
his
approach
to
Bitcoin
was
evident
in
a
series
of
statements
made
on
his
Truth
Social
media
platform
following
a
meeting
with
Bitcoin
miners
at
his
Mar-a-Lago
estate
in
Florida.
Trump
declared,
“The
choice
is
clear.
President
Trump
will
protect
your
right
to
own
Bitcoin,
to
mine
Bitcoin,
to
transact
with
Bitcoin”.
This
shift
is
particularly
noteworthy
given
Trump’s
previous
stance
against
Bitcoin
during
his
presidency,
where
he
allegedly
wanted
to
“go
after
Bitcoin
for
fraud.”
Trump’s
newfound
support
for
Bitcoin
and
crypto
extends
beyond
political
rhetoric.
His
campaign
became
the
first
major
presidential
campaign
to
accept
donations
in
crypto,
seen
as
an
attempt
to
attract
young,
traditionally
Democratic
voters.
Trump
has
also
pledged
to
end
what
he
describes
as
President
Joe
Biden’s
“war
on
crypto”
if
re-elected.
In
contrast,
the
Biden
Administration
has
taken
a
notably
hostile
stance
towards
the
digital
assets
sector
for
the
past
four
years.
This
has
included
a
veto
of
a
repeal
of
legislation
that
would
have
imposed
undue
burdens
on
companies
looking
to
custody
crypto
and
could
stifle
innovation
and
proposals
for
tax
on
electricity
used
for
Bitcoin
mining
aimed
at
reducing
emissions.
However,
there
are
indications
of
a
potential
shift
in
the
Biden
Administration’s
approach
to
cryptocurrencies.
Recent
reports
suggest
that
discussions
are
underway
within
Biden’s
campaign
to
accept
crypto
donations
through
Coinbase
Commerce.
The
Biden
Administration’s
stance
on
crypto
appears
to
be
evolving,
as
indicated
by
recent
developments.
This
shift
can
be
attributed
to
several
key
advancements,
including
potential
SEC
approval
of
spot
ether
exchange-traded
funds
(ETFs)
and
the
passing
of
the
Deploying
American
Blockchains
Act
of
2023.
The
SEC’s
consideration
of
approving
spot
ETH
ETFs
represents
a
significant
turnaround
for
an
asset
class
that
was
previously
assumed
to
be
dead
on
arrival.
Additionally,
the
recent
passing
of
the
Deploying
American
Blockchains
Act
of
2023
by
House
representatives
marks
a
modest
but
important
step
towards
promoting
the
competitiveness
of
the
United
States
in
the
blockchain
industry.
If
realized,
Congressman
Khanna’s
upcoming
roundtable
could
signify
a
pivotal
moment
for
the
US
crypto
industry.
The
roundtable
aims
to
create
a
collaborative
environment
to
foster
growth
and
innovation
by
bringing
together
policymakers
and
industry
leaders.
It
would
also
mean
both
Democrats
and
Republicans
expected
nominees
had
held
Bitcoin
mining
roundtables
and
may
pave
the
way
for
a
more
supportive
regulatory
landscape
in
the
United
States.
Mentioned
in
this
article
Go to Source
Author: Liam ‘Akiba’ Wright
