Ro Khanna, a Democrat House Representative and lawyer, has indicated that there may be positive developments in crypto regulation coming from the Biden administration. Following recent meetings between the White House and industry leaders, Khanna mentioned on social media that he expects a roadmap for crypto regulation to be released in the upcoming weeks. He believes that these new regulations will help companies comply with the law while also fostering innovation and job creation in the United States.
The meetings between White House officials and crypto stakeholders, which included representatives from Ripple, Kraken, Circle, and Paxos, as well as prominent figures like Mark Cuban and Mike Novogratz, have sparked some hope within the industry. Despite initial concerns about President Biden’s approach to crypto, participants in the meetings seem to have a positive outlook on the future of the sector.
However, not everyone in the crypto community is convinced that these discussions will lead to beneficial outcomes. Fred Thiel, CEO of Marathon Digital, expressed worry about the exclusion of Bitcoin miners from the meetings, suggesting that it may signify a lack of interest in the mining sector. Similarly, Charles Hoskinson, the founder of Cardano, has criticized the current administration for its hostile stance towards crypto, cautioning that supporting Vice President Harris could worsen the situation.
While there is skepticism within the industry, some remain hopeful that the Biden administration will take a more favorable approach to crypto regulation. JP Thieriot, a director at Uphold, believes that there is an opportunity for the government to reset its relationship with the crypto industry and adopt a more sensible approach to regulation.
As the discussions between the White House and crypto stakeholders continue, it remains to be seen what the future holds for the regulation of cryptocurrencies in the United States. Despite the differing opinions and concerns within the industry, the potential for positive changes in the regulatory landscape could have significant implications for the future of crypto innovation and job creation in the country.