The value of cryptocurrency soared past $60,000, hitting a peak not seen since 2021. During the present rally, enthusiasts are eager to see if it can set a new record high.
White House Representatives To Meet With The Crypto Industry Despite Trump’s Vow To End The Biden Administration’s Crackdown On Bitcoin, Ethereum, And Other CryptocurrenciesCryptocurrency industry executives are expected to meet White House officials and Representative Ro Khanna (D-Calif.) to voice their concerns and discuss potential policy changes around digital assets.
What Happened: After a roundtable in July, crypto executives are reportedly going to meet with Biden administration officials for the second time, reported Bloomberg, citing a person familiar with the matter.
The industry executives—whose identities are withheld—are anticipated to see Deputy Chief of Staff Bruce Reed, National Economic Advisor Lael Brainard, and departing senior White House advisor Anita Dunn.
This follows a virtual meeting presided over by Cleve Mesidor, the executive director of the nonprofit Blockchain Foundation and a former official in the Obama administration.
A “few hundred” members of the crypto business attended the conference, which raised hopes that Kamala Harris will take a pro-crypto and pro-Web3 posture should she become president.
Trending: With an EV revolution still going strong, low-income neighborhoods that were previously disregarded now offer a major investment opportunity for as little as $500.
But Mesidor asked the cryptocurrency sector to be patient.
“With all of the priorities, with all of the various groups that in just a week-and-a-half have really coalesced around her, she’s not going to say ‘my biggest priority is crypto’ or ‘my biggest priority is climate,'” Mesidor stated.
Why This Is Important: This occurs after former President Donald Trump endorsed the digital asset class and cryptocurrencies became a campaign topic.
Trump declared last week that if he were elected, the price of Bitcoin (CRYPTO: BTC) would rise like “never before” and that he would fire Gary Gensler, the chair of the Securities and Exchange Commission (SEC).
Gensler has been seen as hostile towards cryptocurrencies. “I will appoint a new SEC chairman who believes America should build the future and not block the future,” Trump said at the Bitcoin 2024 conference in Nashville.
The Official Monetary and Financial Institutions Forum (OMFIF,) an independent financial think tank, has recommended Harris adopt a crypto-friendly agenda to take on Trump.
However, not everyone seems to support pro-crypto promises. Renowned economist Paul Krugman even slammed Trump’s pro-Bitcoin stance, terming it as a “government bailout of a scandal-ridden industry.”