U.S. 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, seen by Bitcoin Magazine.
Khanna’s Office described the upcoming meeting as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
The roundtable is expected 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.
Last night, Trump pledged to “end Joe Biden’s war on crypto” and ensure that the future of Bitcoin and crypto will be made in America. Earlier this week, Trump also hosted a roundtable in Mar-a-Lago with some of the nation’s largest Bitcoin miners, and committed to support Bitcoin mining both in Washington D.C. and on the global stage.
For the past four years, the Biden Administration has taken a hostile stance toward the Bitcoin and crypto industry. Recently, on May 31, President Biden vetoed 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 the Samourai wallet, a popular Bitcoin mixing service, on charges of money laundering, in April of this year.
In May 2023, Biden compared crypto traders to “wealthy tax evaders” and, in March, his 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-emission energy future.
This upcoming roundtable signals a shift in Washington’s approach to the crypto 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 started accepted donations through Coinbase as well.