Senior White House officials have reportedly engaged with cryptocurrency leaders to discuss industry concerns, facilitated by Representative Ro Khanna. This initiative continues the Biden-Harris administration’s efforts to engage with the crypto sector. Additionally, the Democrats have launched a “Crypto for Harris” initiative to help Vice President Kamala Harris gain support from the cryptocurrency community.
Biden-Harris Administration Steps Up Engagement with Cryptocurrency Sector
Senior White House officials reportedly engaged in a call with cryptocurrency leaders on Thursday as part of the Biden administration’s efforts to connect with the industry. The call included Bruce Reed, White House deputy chief of staff; Lael Brainard, National Economic Council director; and Kristine Lucius, a senior adviser to Vice President Kamala Harris, The Hill reported, citing sources familiar with the matter. Pro-crypto Democratic Representative Ro Khanna from California hosted the meeting.
This initiative follows the recent roundtable organized by Khanna, featuring Democratic lawmakers and industry executives, including Anita Dunn, formerly a senior adviser to President Biden, who has since joined a super PAC supporting Harris’ campaign.
White House spokesperson Robyn Patterson said in a statement:
The Biden-Harris administration will continue meeting with a range of stakeholders and working with members of Congress on legislation to develop safeguards that are necessary to harness the potential benefits and opportunities of crypto-asset innovation.
Paul Grewal, the chief legal officer for the Nasdaq-listed cryptocurrency exchange Coinbase, stated that while White House officials recognized the industry’s concerns during the call, they stopped short of making any definitive commitments.
“I applaud [Khanna] for working valiantly to keep people talking to one another and to continue to urge Democratic support for basic crypto legislation and standards,” the Coinbase legal chief told the publication. “The conversation today, in many ways, was a real contrast to the other conversations that the industry has been having with the Harris campaign … about how she might mark a break from the policies of the past and really signal to not just the crypto industry but the 52 million Americans who own crypto that she gets it.”
Moreover, a new initiative called “Crypto for Harris” has reportedly been launched by the Democrats to help Vice President Kamala Harris gain support from the cryptocurrency community, Fox Business reporter Eleanor Terrett revealed on Wednesday.
Comprised of approximately 50 industry participants and policy experts, “Crypto for Harris” will host a virtual town hall next week, featuring speakers like Mark Cuban, Anthony Scaramucci, and several Democratic House Representatives. The group’s goal is to counter former President Donald Trump’s growing influence in the industry and to bolster Vice President Kamala Harris’ campaign and fundraising efforts as the November election approaches.
What do you think about the Biden-Harris administration’s engagement with the cryptocurrency industry and the “Crypto for Harris” initiative? Let us know in the comments section below.
