Bitcoin (BTC)


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 personal e-mail sent out by Khanna’s Office, seen by Bitcoin Magazine. 

Khanna’s Office explained the upcoming conference as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”

The roundtable is anticipated to function officials from the Biden Administration, House, and Senate, together with American business owner Mark Cuban, according to the e-mail. The main goal of this conference is to plan on how to “keep Bitcoin and blockchain innovation in the United States.”

This effort is viewed as an action to previous President Donald Trump’s current recommendations of the Bitcoin market. Trump has actually just recently ended up being the very first President to accept Bitcoin Lightning payments for project contributions. 

Last night, Trump vowed to “end Joe Biden’s war on crypto” and make sure that the future of Bitcoin and crypto will be made in America. Earlier today, Trump also hosted a roundtable in Mar-a-Lago with a few of the country’s biggest Bitcoin miners, and devoted to assistance Bitcoin mining both in Washington D.C. and on the international phase.

For the previous 4 years, the Biden Administration has actually taken a hostile position towards the Bitcoin and crypto market. Recently, on May 31, President Biden banned legislation that would have enabled extremely managed banks to custody Bitcoin and cryptocurrencies. 

The Department of Justice (DOJ) has also detained the creators and CEO of the Samourai wallet, a popular Bitcoin blending service, on charges of cash laundering, in April of this year. 

In May 2023, Biden compared crypto traders to “wealthy tax evaders” and, in March, his administration released a financial report extremely important 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 electrical energy utilized for Bitcoin mining, arguing that it prevents the shift to a low-emission energy future. 

This upcoming roundtable signals a shift in Washington’s technique to the crypto market, and might represent a warming of belief amongst democrats, offered Khanna’s celebration association.

Earlier today, it was reported that the Biden Administration is in talks to accept crypto contributions through Coinbase Commerce, following Trump who also began accepted contributions through Coinbase also. 

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