Key Takeaways
- Mark Cuban previously criticized SEC’s approach, suggesting its potential impact on the 2024 election.
- Ro Khanna’s roundtable seeks to strengthen crypto industry ties.
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Democrat Ro Khanna is hosting an exclusive crypto-focused roundtable in Washington this Wednesday, Fox Business journalist Eleanor Terrett reiterated in a recent post. The event will feature several prominent figures, including billionaire entrepreneur Mark Cuban, Ripple CEO Brad Garlinghouse, and SkyBridge Capital founder Anthony Scaramucci, Terrett reported in a separate post.
Cuban is a vocal advocate for crypto and the crypto industry. He believes clear crypto 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 has criticized the SEC’s current enforcement approach under Chair Gary Gensler, claiming it could jeopardize Biden’s campaign.
The roundtable is Khanna’s efforts to protect the crypto industry from Donald Trump’s potential takeover.
Trump has publicly expressed his strong support for Bitcoin and the crypto 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 to embrace the crypto industry compared to Republicans.
With the coming meeting, Khanna aims to strengthen ties with the crypto industry and appeal to crypto voters. The congressman has a history of supporting crypto-friendly legislation, like the FIT21 (Financial Innovation and Technology for the 21st Century Act) bill.
Approved by the House in May, the FIT21 bill seeks 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 assets ecosystem.
Executives from Coinbase, Kraken, Circle, Andreessen Horowitz, former CFTC Chairman Chris Giancarlo, along with Democratic lawmakers and White House officials, are also expected to attend Khanna’s roundtable.
There is speculation about the involvement of White House officials, including Biden’s Chief of Staff Jeff Zients, and White House advisor Carole Hause. Hause has been involved in shaping crypto regulation in the Biden administration.
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