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Bitcoin and Cryptocurrency Frontline: Biden Administration to Attend Key Roundtable in Washington

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The administration of U.S. President Joe Biden and Congressman Ro Khan schedule He is set to attend a roundtable on Bitcoin and cryptocurrencies in Washington DC in July this year, a significant move that signals the growing importance of regulation and innovation in digital assets.

The high-profile event will bring together industry leaders, advocates and key policymakers to discuss the future of digital assets in the U.S. In a statement, Kana’s office called the upcoming gathering the most significant meeting between policymakers and blockchain innovation leaders to date.

Cryptocurrency innovation will stay in the US

According to a leaked report from Bitcoin Magazine, the purpose of the discussion, which will be chaired by U.S. Representative Ro Khanna, is to preserve blockchain innovation and Bitcoin In Japan. Given Khanna’s political stance, this upcoming roundtable could signal a change in Washington’s attitude towards the cryptocurrency space and a softening of Democratic sentiment.

Officials from the Senate, House of Representatives and Biden administration are expected to take part in the discussions, along with American business leaders. Mark CubanParticipants are expected to explore topics such as legal frameworks, the economic impact of cryptocurrency assets, and how to foster innovation while maintaining consumer protection.

The Biden Administration’s involvement demonstrates that the federal government recognizes the need for comprehensive and clear cryptocurrency regulation. This development comes in light of rapid technological developments and increasing volatility in the cryptocurrency market, making the discussion of regulatory clarity and stability more important than ever.

The Biden administration’s involvement comes as a shock to the entire cryptocurrency community, given President Joe Biden’s longstanding opposition to digital assets. Over the past four years, the administration has been hostile towards Bitcoin and the digital asset industry.

President Biden recently vetoed a bill that would have repealed a controversial Securities and Exchange Commission notice outlining accounting guidelines for companies that hold cryptocurrencies. “My Administration will not support measures that put the well-being of consumers and investors at risk,” President Biden said.

Additionally, the Biden administration is also proposing to impose a 30% tax on electricity used for bitcoin mining.The company argues that this hinders the transition to lower-emission energy sources.

Biden campaign considers donating digital assets

This high-profile meeting Reports President Joe Biden’s campaign has revealed that it is in discussions with players in the cryptocurrency industry about accepting digital asset donations through Coinbase Commerce.

The initiative can also be seen as a response to former US President Donald Trump, given that it was he who first proposed 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 explore strategies to woo crypto-interested voters ahead of the upcoming elections. Digital Assets It’s also a hot topic in this year’s election, with both candidates appearing to be battling for the support of a growing industry.

Cryptocurrency market capitalization is $2,352 billion | Source: TOTAL Trading View

Featured image from iStock, chart from Tradingview.com

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