Democrat roundtable to host Mark Cuban and Brad Garlinghouse to discuss crypto regulations

Democrat Ro Khanna will be hosting a roundtable on Wednesday, June 10th, to discuss crypto regulations. The roundtable will feature some of the most prominent figures in the crypto industry, including Ripple CEO Brad Garlinghouse and billionaire investor Mark Cuban.

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Fox Business reporter Eleonor Terrett reported that the congressman would sit beside prominent figures, including former CFTC chairman under the Trump regime Chris Giancarlo, billionaire Shark Tank host Mark Cuban, SkyBridge Capital founder and CEO Anthony Scaramucci, and Ripple’s chief executive Brad Garlinghouse. 

The roundtable will also host executives from prominent crypto organizations. Stablecoin issuer Circle, crypto exchanges such as Coinbase and Kraken, and tech venture capital firm Andreessen Horowitz are also expected to send executives to the event. 

A leaked email confirmed the event

A leaked private email in mid-June confirmed that Ro Khanna’s office was planning the event. According to the email, the main objective of the meeting will be to strategize on sustaining crypto and blockchain innovation in the United States. The email “confirmed” the attendance of senior government officials, Mark Cuban, and representatives from the two legislative houses. 

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Mark Cuban is widely known for his contributions to the crypto industry. Recently, the businessman criticized the U.S. Securities and Exchange Commission for its current hostile crypto approach under Gary Gensler’s leadership. Cuban also stated that the U.S. SEC’s crackdown on crypto enterprises could cost Biden the upcoming election.

Khanna is known as a tech enthusiast who has advocated for his constituency administration to advance in crypto and blockchain technology to create possible job opportunities. He was among the 71 Democratic representatives who supported the FIT21 bill , which proposed the establishment of regulatory clarity on blockchain-powered digital assets.

Trump promises to ease crypto regulations if re-elected.

Fox Business reported that Ro Khanna aims to “save” the crypto industry from Trump’s takeover. The former president is also known for his pro-crypto enthusiasm. Since May, Trump has actively engaged crypto enthusiasts, promising more favorable crypto regulations.

Trump has promised the crypto community that he will relieve the crypto regulation pressure that the Biden administration has imposed on the industry. While speaking at a live conference in West Palm Beach, Florida, Trump said he would “end Joe Biden’s war on crypto” and that the future of crypto would reside in America.

Among his campaign promises, Trump pledged to stop the current war on crypto and ease crypto regulation once re-elected. Trump is also reportedly expected to attend the Bitcoin 2024 event in Nashville.

Biden’s administration has created a relatively unfavorable environment for the crypto industry. In May, The White House stated that President Biden would veto a bill that would have granted regulated financial institutions custody of cryptocurrencies such as Bitcoin.

Trump’s endorsements of the digital asset industry have been significant in the last few years. Trump made a historic move to become the first US presidential candidate to accept crypto donations when his presidential campaign started accepting payments through the Bitcoin Lightning Network. OpenNode, a Bitcoin Lightning Network infrastructure provider, partnered with Trump’s campaign to facilitate the crypto transactions.

Cryptopolitan reporting by Collins J. Okoth