[NEWS] Senior government officials meet with crypto industry leaders at the White House

As part of the Joe Biden administration’s outreach to the cryptocurrency industry, White House officials held a virtual meeting with 12 cryptocurrency leaders on the 8th, cryptocurrency media outlet The Block reported.

According to sources, White House deputy chief of staff Bruce Reed and National Economic Council director Lael Brainard were in attendance, as well as Kristine Lucius, senior adviser and legislative director for Vice President Kamala Harris, who is seen as a potential presidential candidate. Representatives from the cryptocurrency industry included Ripple CEO Brad Garlinghouse, Chairman Chris Larsen, Uniswap CEO Hayden Adams, Stellar Development Foundation's Denelle Dixon, Circle CEO Jeremy Allaire, billionaire Mark Cuban, Coinbase's Chief Legal Officer Paul Grewal, and former White House Communications Director Anthony Scaramucci.

The meeting was hosted by Democratic Congressman Ro Khanna (California), a supporter of cryptocurrencies. The purpose was for the White House and the Democratic Party to repair ties with the cryptocurrency industry amid a continuing frosty relationship.

In July, Khanna hosted a roundtable with crypto industry executives and Democratic lawmakers, which was also attended by Anita Dunn, then a senior adviser to President Biden.

Dunn left the White House to work for a super PAC supporting Harris' campaign, as Vice President Harris became the Democratic candidate following Biden's withdrawal from the presidential race.

Paul Grewal, chief legal officer at cryptocurrency exchange Coinbase, said government officials at the meeting on the 8th understood the industry's frustrations and were eager to find a solution. But they did not commit to it, he added.

"I commend Khanna for working courageously to keep people talking to each other and encouraging Democratic support for basic crypto legislation and basic crypto standards so that we don't cede this issue to Republicans or get more partisan than necessary," Grewal said.

Vice President Harris also goes crypto-friendly

Meanwhile, Republicans, including Donald Trump, have shown an increasingly open attitude toward cryptocurrencies. The Republican Party included cryptocurrency in its platform released ahead of the Republican National Convention last month, and former President Trump gave a keynote speech at a Bitcoin (BTC) conference in late July.

"I'm laying out a plan for the United States to become the crypto capital of the planet and the Bitcoin superpower of the world," former President Trump said at Bitcoin 2024.

But as Harris' campaign got underway, her team began negotiating with the crypto industry. Grewal said,

"Today's conversation was in many ways a real contrast to other conversations the industry has had with the Harris campaign. It's about how Harris breaks away from past policies and shows not only the crypto industry but the 52 million Americans who own crypto assets that she understands."

White House Press Secretary Robyn Patterson said in a statement on the 8th that the president has launched "the first comprehensive approach to support innovation in digital assets."

Reference: THE BLOCK
Image: Shutterstock

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