US lawmakers meet with crypto advocates in DC roundtable

The NFT Unicorn 8cb92824-ad5d-477f-ae0d-165f90fc215e US lawmakers meet with crypto advocates in DC roundtable Crypto News

Members of Congress and an adviser to US President Joe Biden acting in her personal capacity joined a roundtable event with crypto industry heads. 

On July 10, Representative Ro Khanna, Representative Joe Neguse, Senator Kristin Gillibrand, and Anita Dunn discussed digital assets with industry advocates, including Crypto Council for Innovation CEO Sheila Warren, Blockchain Association CEO Kristin Smith, Coinbase Chief Legal Officer Paul Grewal, Ripple CEO Brad Garlinghouse, Stellar Development Foundation CEO Denelle Dixon, and entrepreneur Mark Cuban. Warren described the roundtable as a “productive step forward” in approaching crypto as a nonpartisan issue, while Dixon echoed her sentiment.

“It’s clear that these leaders understand that leadership from the United States on blockchain technology and digital assets is critical to ensure this industry and this technology is allowed to flourish,” said Dixon.

Source: Kristin Smith

After the event, Garlinghouse took to X to suggest that the roundtable may be a “first step in moving from words to actual action.” However, he also emphasized partisan divides on crypto and claimed Securities and Exchange Commission Chair Gary Gensler was a “Luddite” concerning digital assets. 

Overriding Biden’s veto?

Representatives Khanna and Neguse will join other members of the House of Representatives on July 10 to consider overriding President Biden’s veto of a resolution affecting a Securities and Exchange Commission (SEC) rule. The vote, which needs a two-thirds majority in the House to pass, would countermand an SEC account rule requiring banks to record cryptocurrency as a liability on their balance sheets.

Related: House votes to nullify SEC’s anti-crypto banking guidance SAB 121

Though reportedly attending the roundtable in her personal capacity, Biden adviser Dunn’s presence could suggest the US President is reconsidering his position on crypto. Under Donald Trump, the Republican National Committee drafted a new policy platform, including opposition to a central bank digital currency and support for Bitcoin (BTC) mining in the US.

President Biden has also reportedly considered having his campaign accept crypto contributions for his reelection campaign in 2024. He and Trump are the presumptive candidates for the Democratic and Republican parties, but nothing is official until they receive nominations at their respective conventions in August and July.

Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue