Influential figures in the crypto industry will meet to discuss the future of crypto regulation at an event hosted by Democrat Ro Khanna in Washington this Wednesday.
Crypto became a central topic
Fox Business shared that Ro Khanna is organizing a crypto-focused roundtable in Washington, and the event will include participants such as billionaire entrepreneur Mark Cuban, Ripple CEO Brad Garlinghouse, and SkyBridge Capital founder Anthony Scaramucci.
Cuban, a strong supporter of the crypto industry, believes that clear regulations from Congress before the 2024 US presidential election could help President Biden secure another term.
Cuban also criticized the SEC’s current efficiency under Chair Gary Gensler, and told it might harm Biden’s campaign.
Keeping up with the Joneses
Khanna’s roundtable is part of his efforts to shield the crypto industry from potential positive changes under Donald Trump.
Trump expressed strong support for Bitcoin and the crypto industry, cheering himself as crypto-president, promising to reduce regulatory burdens, supporting the industry’s development in America and end what he calls Biden’s war on crypto.
The Democratic Party is slower to realize what’s going on in the crypto industry compared to Republicans, but Khanna now wants to change that by building stronger connections with crypto voters.
Khanna previously supported crypto-friendly legislation, like the FIT21 bill, which was approved by the House in May.
This bill seeks to clarify the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in overseeing digital assets, because now it’s unclear which one is the real authority in case of crypto assets.
The guest list
In addition to Cuban, Garlinghouse, and Scaramucci, the roundtable will see attendance from executives of major crypto firms like Coinbase, Kraken, Circle, and Andreessen Horowitz.
Former CFTC Chairman Chris Giancarlo, other Democratic lawmakers are also expected to showing up, and sharing their thoughts, opinions.
There is speculation that even White House officials, including Biden’s Chief of Staff Jeff Zients and advisor Carole Hause, who has been involved in shaping crypto regulations in the Biden administration, may attend the event. No official announcement yet, of course.
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