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Lo Khanna wants to save the $2 trillion cryptocurrency industry from a Trump takeover.
The congressman, a progressive Democrat who represents a district that includes crypto-friendly parts of Silicon Valley, is reaching out to top figures in the digital asset industry, Democratic lawmakers and White House officials, inviting them to an exclusive roundtable in the nation’s capital next week, Fox Business reported.
The meeting is scheduled for Wednesday and is expected to be attended by more than 20 people, including at least one representative. White House We will also be joined by billionaire entrepreneur Mark Cuban, who is an investor and advocate of cryptocurrencies.
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The first industry publication Bitcoin Magazine report An email sent from Khanna’s office last month announced his intention to host a meeting with policymakers and crypto industry leaders alongside Cuban “in early July.”
FOX Business reported that industry representatives were flying in from around the country to take part in Wednesday’s event hosted by Kanha’s reelection campaign.
The fact that details about the meeting have not been leaked so far is a testament to the strict confidentiality that Khanna campaign staff are asking attendees to maintain — for example, the exact location of the meeting has not yet been revealed to guests.
California Democratic Congressman Ro Khanna is hoping to hold an executive roundtable in Washington DC with some of the top movers and shakers in the digital asset industry. (Photo: Anna Moneymaker/Getty Images/Getty Images)
Khanna’s campaign staff did not respond to requests for comment.
“They haven’t revealed the location, they haven’t told us who is coming from where. Biden Administration“There has been a great deal of secrecy around this,” said one attendee.
The reason for the secrecy is itself a mystery: Khanna is up for reelection this fall and is a technology enthusiast who has touted the development of cryptocurrency and blockchain technology as a way to create jobs in his district.
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He was one of 71 Democrats. House of Representatives Lawmakers voted to pass the 21st Century Financial Innovation and Technology Act, also known as FIT21, which seeks to provide regulatory clarity for the digital asset industry.
But Biden’s party has been slow to embrace cryptocurrencies as a potential voting bloc, while Republican presidential candidate Donald Trump has been openly engaging with crypto enthusiasts since early May, promising to ease the regulatory burden imposed on the industry by Biden’s Securities and Exchange Commission.
Trump has made “ending Biden’s cryptocurrency wars” one of his election pledges, prompting many cryptocurrency supporters, including those who voted for Biden in 2020, to pledge their loyalty to Trump and throw money at him ahead of the election.
Former President Trump has promised to end President Biden’s so-called “cryptocurrency wars” if elected to a second term. (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images/Getty Images)
Trump is reportedly in negotiations to speak at Bitcoin 2024, an industry event billed as “the world’s largest gathering of bitcoin enthusiasts,” which will take place on November 14, 2024. Nashville Later this month.
The former president’s pro-crypto statements and growing support from the industry, including from influential figures like Cameron and Tyler Winklevoss, have prompted anti-Trump Democrats like Khanna to step up and appeal directly to members of the White House.
Biden’s chief of staff, Jeff Zients, has reportedly been invited to Wednesday’s roundtable, according to one attendee with direct knowledge of the event.
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However, this meeting Democratic Party Following Biden’s disastrous debate performance last Thursday, there have been calls within his party for him to withdraw from the race. November ElectionsBecause of the uproar, it’s unclear whether Zients will attend the meeting, the people said.
Several major politicians, including former President Trump, are reportedly in talks to attend Bitcoin 2024, a major cryptocurrency-focused convention scheduled to take place in Nashville. (REUTERS/Dado Ruvic/File Photo/Reuters Photo)
White House adviser Carol House, who served as director of cybersecurity and secure digital innovation on the Biden administration’s National Security Council, is reportedly scheduled to attend. House, who co-authored the Biden administration’s 2022 executive order on cryptocurrencies, announced last month that she would return to the White House to serve as special adviser for cybersecurity and critical infrastructure policy.
House’s reinstatement is seen by some as a sign that the White House is serious about regulating cryptocurrencies.
House did not respond to a request for comment.
Other attendees at the roundtable include Ripple CEO Brad Garlinghouse, Skybridge Capital founder and CEO Anthony Scaramucci, and Chris Giancarlo, a former CFTC chair under the Trump administration who will be representing cryptocurrency firm Paxos. Executives from cryptocurrency exchanges Coinbase and Kraken and stablecoin firm Circle are also scheduled to attend, as are leaders from industry groups including the Blockchain Association and the Crypto Council for Innovation.
While Khanna may be trying to garner support from crypto industry leaders by supporting his party, some have noted his motives are also selfish.
Khanna, 47, is facing 26-year-old Republican candidate Anita Chen in the November general election for California’s 17th congressional district seat and may be looking to leverage cryptocurrency votes to help him win. Khanna is also said to be eyeing a future presidential run.
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“Consider that Khanna has one of the largest super PACs in the crypto industry and is recruiting Mark Cuban, who has consistently portrayed himself as the new face and commander of the progressive cause over the years,” one lawmaker said. Cryptocurrency Lobbyist “He’s positioned himself to get support from the cryptocurrency industry,” said one person, speaking on condition of anonymity.
