Regulation
Mark Cuban and Brad Garlinghouse are expected to discuss cryptocurrencies at the Democratic roundtable this week
Key points
- Mark Cuban has previously criticized the SEC’s approach, speculating on its potential impact on the 2024 elections.
- Ro Khanna’s roundtable aims to strengthen ties in the cryptocurrency industry.
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Democrat Ro Khanna will host an exclusive cryptocurrency roundtable in Washington on Wednesday, Fox Business reporter Eleanor Terrett recently reiterated. sendThe event will feature a number of high-profile figures, including billionaire entrepreneur Mark Cuban, Ripple CEO Brad Garlinghouse, and SkyBridge Capital founder Anthony Scaramucci, Terrett said in a separate article. send.
Cuban is an ardent supporter of cryptocurrencies and the cryptocurrency industry. He believes that clear cryptocurrency regulations from Congress before the 2024 US presidential election could help secure another term for President Biden, as crypto voters will be an influential factor.
The billionaire criticized the SEC’s current enforcement approach under Chairman Gary Gensler, arguing that it could jeopardize Biden’s campaign.
The roundtable is about Khanna’s efforts to protect the cryptocurrency industry from a potential takeover by Donald Trump.
Trump has publicly expressed his strong support for Bitcoin and the cryptocurrency industry in recent months. He has promised to reduce regulatory burdens and end what he called “Biden’s war on crypto.”
Meanwhile, the Democratic Party has been slower than the Republicans to embrace the cryptocurrency sector.
With the upcoming meeting, Khanna aims to strengthen ties with the cryptocurrency industry and attract crypto voters. The congressman has a history of supporting crypto-friendly legislation, such as the FIT21 (Financial Innovation and Technology for the 21st Century Act).
Approved The FIT21 bill, passed by the House in May, aims to establish a clearer division of jurisdiction between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing the digital asset ecosystem.
Khanna’s roundtable is also expected to include executives from Coinbase, Kraken, Circle, Andreessen Horowitz, former CFTC Chairman Chris Giancarlo, along with Democratic lawmakers and White House officials.
There is speculation that White House officials, including Biden’s chief of staff Jeff Zients and White House counselor Carole Hause, were involved. Hause has been involved in shaping cryptocurrency regulation in the Biden administration.
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