US President Joe Biden has decided to convene a meeting to address the issue of cryptocurrency. Key figures from the Biden administration, including billionaire entrepreneur Mark Cuban and lawmakers from both the House and Senate, will participate in a roundtable discussion scheduled for early July. The event, organized by Democratic Rep. Ro Khanna of Silicon Valley, aims to explore strategies to support and advance Bitcoin and blockchain innovation in the United States. This meeting underscores the growing significance of cryptocurrencies in both the economic and political realms, especially as the 2024 presidential elections draw near.
Mark Cuban, a vocal advocate for cryptocurrencies, has stressed the importance of this issue for the upcoming elections. He has warned that Biden must choose between SEC Chairman Gary Gensler and crypto voters, as failure to do so could impact his chances of retaining the White House.
Rep. Khanna, a staunch supporter of the cryptocurrency industry, recently introduced the FIT21 bill in the House, which seeks to grant the Commodity Futures Trading Commission (CFTC) jurisdiction over digital commodities and establish regulatory frameworks at the Securities and Exchange Commission (SEC). Khanna has called on the Biden administration to endorse this legislative initiative.
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