By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 min read
Democratic House Representative Ro Khanna said the crypto industry is a key contributor to America’s financial prowess and also acknowledged the frustration among the industry players.
Crypto has taken centerstage in the upcoming US Presidential election with both sides, Democrats and Republicans, making the final push to get closer to the crypto industry. Pro-Bitcoin Democrat House Representative and lawyer Ro Khanna stated that the current Biden administration could be releasing a crypto roadmap soon in the “coming weeks” after a recent discussion between the industry leaders and White House officials.
In a recent message posted on the social media platform X on Monday, August 12, Ro Khanna said:
“I’m hopeful that as a consequence of these meetings, the Administration will issue a positive statement in the coming weeks with a roadmap signaling the path toward reasonable regulation.”
He further stated that the regulations will help crypto companies stay compliant while simultaneously promoting innovation and job creation in the US. Khanna also talked about the importance of the crypto sector to maintain American competitiveness in the global financial space.
Some of the top crypto industry leaders from crypto firms like Ripple, Coinbase, Galaxy Digital, etc. attended the Zoom meeting with the White House officials. Reportedly, these industry leaders slammed President Joe Biden’s administration’s hostile approach to the emerging crypto industry.
However, the participants and the government officials came to a common conclusion of taking effective measures for the crypto sector to thrive. Acknowledging this, Khanna said that “there is much frustration in the industry”. “These folks are focused on innovating and creating jobs in the US. An already difficult task made tougher without clear guardrails or regulation,” he added.
Despite the efforts of the Democratic Party players, skepticism continues to remain in the crypto industry. Marathon Digital CEO Fred Thiel voiced concern about the absence of Bitcoin miners at these meetings, questioning whether this exclusion indicates a lack of interest in Bitcoin mining.
Interesting that not a single bitcoin miner was represented…I wonder if that means the Harris team is not interested in bitcoin miners participating in the discussion and therefore by inference not interested in bitcoin mining in the US. We have certainly reached out to ask to…
— Fred Thiel (@fgthiel) August 13, 2024
Previously, Cardano CEO Charles Hoskinson also expressed strong criticism of the Kamala Harris “crypto reset” approach and added that the VP can exacerbate the war on crypto going ahead.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
