Over the weekend, Bitcoin Magazine reported that US 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 private email sent by Khanna’s office and seen by Bitcoin Magazine. Khanna’s office reportedly described the upcoming meeting as “the most significant meeting between policymakers and innovation leaders in blockchain to date.”
Bitcoin Magazine expects the meeting to feature officials from the Biden Administration, House, and Senate, alongside American businessman Mark Cuban, according to the email. The primary objective of this meeting is to strategize on how to “keep Bitcoin and blockchain innovation in the United States.” This initiative is seen as a response to former President Donald Trump’s recent endorsements of the Bitcoin industry. Trump has recently become the first President to accept Bitcoin Lightning payments for campaign donations.
Former President Donald Trump has experienced a dramatic shift in stance towards cryptocurrencies, moving from vocal critic to ardent supporter. In 2019 Trump said,
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….”
The transformation in his approach to Bitcoin was evident in a series of statements made on his Truth Social media platform following a meeting with Bitcoin miners at his Mar-a-Lago estate in Florida. Trump declared, “The choice is clear. President Trump will protect your right to own Bitcoin, to mine Bitcoin, to transact with Bitcoin”. This shift is particularly noteworthy given Trump’s previous stance against Bitcoin during his presidency, where he allegedly wanted to “go after Bitcoin for fraud.”
Trump’s newfound support for Bitcoin and crypto extends beyond political rhetoric. His campaign became the first major presidential campaign to accept donations in crypto, seen as an attempt to attract young, traditionally Democratic voters. Trump has also pledged to end what he describes as President Joe Biden’s “war on crypto” if re-elected.
In contrast, the Biden Administration has taken a notably hostile stance towards the digital assets sector for the past four years. This has included a veto of a repeal of legislation that would have imposed undue…
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