Crypto Industry To Meet With White House Officials, Even As Trump Promises To Reverse Biden Administration’s Crackdown On Bitcoin, Ethereum And Other Cryptocurrencies

Cryptocurrency business executives are anticipated to fulfill White House officers and Consultant Ro Khanna (D-Calif.) to voice their issues and focus on potential coverage adjustments round digital belongings.

What Occurred: After a roundtable in July, crypto executives are reportedly going to fulfill with Biden administration officers for the second time, reported Bloomberg, citing an individual accustomed to the matter.

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Whereas the business executives haven’t been recognized, they’re anticipated to fulfill outgoing senior White House advisor Anita Dunn, Nationwide Financial Advisor Lael Brainard, and Deputy Chief of Employees Bruce Reed.

This comes after a digital assembly, hosted by former Obama administration official and government director of nonprofit Blockchain Basis, Cleve Mesidor.

The assembly, attended by a “few hundred” crypto business individuals, expressed optimism a few potential Kamala Harris presidency to undertake a pleasant stance in the direction of crypto and Web3.

Trending: Amid the continuing EV revolution, beforehand missed low-income communities now harbor a huge investment opportunity at just $500.

Mesidor, nevertheless, sought endurance from the crypto business.

“With all the priorities, with all the varied teams that in only a week-and-a-half have actually coalesced round her, she’s not going to say ‘my largest precedence is crypto’ or ‘my largest precedence is local weather,'” Mesidor stated.

Why It Issues: This comes after cryptocurrency emerged as one of many marketing campaign points, with former President Donald Trump throwing his weight behind the digital asset class.

Final week, Trump stated Bitcoin BTC/USD would rally like “never before” if he wins, and promised to fireside the present Securities and Trade Fee (SEC) chair, Gary Gensler.

Gensler has been seen as hostile in the direction of cryptocurrencies.  “I’ll appoint a brand new SEC chairman who believes America ought to construct the longer term and never block the longer term,” Trump stated on the Bitcoin 2024 convention in Nashville.

The Official Financial and Monetary Establishments Discussion board (OMFIF,) an impartial monetary suppose tank, has recommended Harris undertake a crypto-friendly agenda to tackle Trump.

Nonetheless, not everybody appears to assist pro-crypto guarantees. Famend economist Paul Krugman even slammed Trump’s pro-Bitcoin stance, terming it as a “authorities bailout of a scandal-ridden business.”

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