Recent reports indicate that the White House is initiating conversations with leaders from the cryptocurrency sector. As the election campaign intensifies, the Biden-Harris duo appears eager to strengthen their ties with this innovative industry.
Will the White House Embrace Cryptocurrency?
High-ranking officials from the White House reportedly held discussions with prominent figures in the cryptocurrency market on Thursday. These discussions are part of the Biden administration's efforts to enhance its relationship with the crypto community.
Key participants included Bruce Reed, Deputy Chief of Staff; Lael Brainard, Director of the National Economic Council; and Kristine Lucius, Senior Advisor to Vice President Kamala Harris. The meeting was led by California Congressman Ro Khanna.
This initiative builds upon a recent roundtable hosted by Khanna, which brought together lawmakers and representatives from the blockchain sector.
White House spokesperson Robyn Patterson stated in a media release:
"The Biden-Harris administration will continue to meet with a range of stakeholders and collaborate with members of Congress on legislation aimed at developing the safeguards necessary to harness the potential benefits and innovations of crypto-assets."
Paul Grewal, Chief Legal Officer of cryptocurrency exchange Coinbase, which is listed on Nasdaq, commented that while White House officials acknowledged the industry's concerns, no definitive commitments were made:
"I commend [Khanna] for his bold actions in further urging Democrats to support fundamental legislation and standards for cryptocurrencies. Today's discussion, in many ways, stood in stark contrast to other conversations the industry has had with Harris's team about how she [Harris, a presidential candidate] might mark her departure from past policies and genuinely signal not only to the industry but also to the 52 million Americans who own cryptocurrencies that she understands their significance."
Crypto for Harris Initiative
In tandem, a movement called "Crypto for Harris" is gaining momentum, aimed at helping Vice President Kamala Harris win support from the cryptocurrency community.
Consisting of approximately 50 industry participants and political experts, "Crypto for Harris" is set to organize a virtual meeting next week that will feature notable figures such as Mark Cuban, Anthony Scaramucci, and several members of Congress.
This evolving dialogue suggests a significant shift in the Biden administration's approach toward cryptocurrency and its potential future engagement with this burgeoning sector.
