Leak: Biden Administration Attends Bitcoin Roundtable with Key Congressional Officials in DC

U.S. Representative Ro Khanna, who represents California’s 17th Congressional District, is scheduled to host a Bitcoin and blockchain roundtable in Washington, D.C. in early July, according to a personal email from Khanna’s office seen by Bitcoin Magazine.

Khanna’s office described the upcoming meeting as “the most important meeting between policymakers and innovation leaders in the blockchain space to date.”

According to the email, the roundtable is expected to be attended by officials from the Biden administration, the House of Representatives, and the Senate, along with U.S. businessman Mark Cuban. The main goal of the meeting is to create a strategy for how to “sustain Bitcoin and blockchain innovation in the United States.”

The plan is believed to be a response to former President Donald Trump’s recent support for the Bitcoin industry. Trump recently became the first president to accept Bitcoin Lightning payments as campaign donations.

Last night, Trump promised to “end Joe Biden’s war on cryptocurrencies” and ensure that the future of Bitcoin and cryptocurrencies is made in America. Earlier this week, President Trump hosted a roundtable at Mar-a-Lago with some of the country’s largest Bitcoin miners and pledged to support Bitcoin mining in Washington DC and on the global stage.

Over the past four years, the Biden administration has taken a hostile stance toward Bitcoin and the cryptocurrency industry. As recently as May 31, President Biden vetoed a bill that would have allowed highly regulated financial institutions to store Bitcoin and cryptocurrencies.

The Department of Justice (DOJ) also arrested the founder and CEO of Samourai Wallet, a popular Bitcoin mixing service, on money laundering charges in April this year.

In May 2023, Biden likened cryptocurrency traders to “rich tax evaders,” and in March his administration released an economic report highly critical of Bitcoin and proof-of-work mining while promoting central bank digital currencies (CBDCs). The Biden administration has also proposed a 30% tax on electricity used to mine Bitcoin, arguing it would hinder the transition to a low-emissions energy future.

The roundtable signals a shift in Washington’s approach to the cryptocurrency industry, and could signal warming feelings among Democrats, given Khanna’s party affiliations.

Earlier this week, it was reported that the Biden administration was in talks to accept cryptocurrency donations through Coinbase Commerce, following Trump, who also began accepting donations through Coinbase.