The
Administration
under
US
President
Joe
Biden
and
Congressman
Ro
Khanna
is

slated

to
attend
a
roundtable
on
Bitcoin
and
cryptocurrencies
this
July
in
Washington,
D.C.,
which
is
a
significant
move
signaling
the
growing
relevance
of
digital
assets
regulation
and
innovation.

Leaders
in
the
industry,
advocates,
and
important
policymakers
will
come
together
to
discuss
the
future
of
digital
assets
in
the
US
at
this
high-profile
event.
In
a
statement,
the
office
of
Khanna
called
the
planned
gathering
the
most
significant
meeting
between
policymakers
and
innovation
leaders
in
blockchain
to
date.

 

Cryptocurrency
Innovation
To
Be
Kept
Inside
The
US

According
to
leaked
reports
from
Bitcoin
Magazine,
the
goal
of
the
proposed
discussion,
which
will
be
chaired
by
Congressman
Ro
Khanna
of
the
United
States,
is
to
talk
about
how
to
retain
blockchain
innovation
and

Bitcoin

domestically.

Given
Khanna’s
political
affiliation,
the
impending
roundtable
indicates
a
change
in
Washington’s
stance
toward
the
cryptocurrency
sector
and
may
also
indicate
a
softening
of
Democratic
sentiment.

Officials
from
the
Senate,
House,
and
the
Biden
administration
are
anticipated
to
participate
in
the
discussion,
along
with
American
businessman

Mark
Cuban.
It
is
anticipated
that
the
participants
will
explore
subjects
like
legal
frameworks,
the
economic
effects
of
cryptocurrency
assets,
and
methods
to
promote
innovation
while
maintaining
consumer
protection.

 

With
the
Biden
Administration
involved,
the
federal
government
is
demonstrating
that
it
recognizes
the
necessity
for
comprehensive
and
unambiguous
crypto
rules.
This
event
comes
in
light
of
rapid
technological
developments
and
increased
crypto
market
volatility,
making
the
conversation
about
regulatory
clarity
and
stability
more
important
than
ever.

Biden
administration’s
involvement
comes
as
a
shock
to
the
entire
cryptocurrency
community,
given
President
Joe
Biden’s
stance
against
digital
assets
over
time.
For
the
last
four
years,
the
administration
has
been
antagonistic
toward
Bitcoin
and
the

digital
asset
industry.

President
Biden
recently
vetoed
a
bill
to
repeal
a
contentious
Securities
and
Exchange
Commission
bulletin
outlining
accounting
guidelines
for
companies
that
own
cryptocurrency.
“My
Administration
will
not
support
measures
that
jeopardize
the
well-being
of
consumers
and
investors,”
Biden
stated.

Furthermore,
the
Biden
Administration
has
also
proposed
a
30%
tax
on
electricity
used
for

Bitcoin
mining,
which
claims
that
this
will
impede
the
shift
to
low-emission
energy
sources.

Biden
Campaign
Considers
Digital
Assets
Donations

The
high-profile
meeting
comes
a
few
days
after

reports

revealed
that
President
Joe
Biden’s
campaign
is
in
discussions
with
cryptocurrency
industry
players
about
accepting
digital
assets
donations
through
Coinbase
Commerce.

 

One
could
see
this
initiative
as
a
reaction
to
former
US
president

Donald
Trump,
given
that
Trump
was
the
first
to
initiate
the
idea,
which
garnered
significant
interest
from
the
crypto
space.

According
to
anonymous
sources,
the
discussion
is
the
latest
attempt
by
the
Biden
administration
to
investigate
strategies
for
winning
over
voters
who
are
interested
in
crypto
ahead
of
the
upcoming
elections.
With

digital
assets

becoming
a
major
topic
in
this
year’s
elections,
it
appears
that
both
candidates
are
fighting
for
the
support
of
the
expanding
industry.

Featured
image
from
iStock,
chart
from
Tradingview.com

Go to Source
Author: Godspower Owie

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