The White House hosts a meeting with crypto leaders to address concerns regarding U.S. crypto regulations, emphasizing Gary Gensler’s actions at the SEC.
The future of cryptocurrency regulation in the United States was the subject of a discussion between the White House and senior representatives of the crypto industry on Thursday.
The event, sponsored by Rep. Ro Khanna, was attended by representatives from the Biden administration and the crypto industry. The discussion encompassed significant policies, regulations, and incidents such as the SEC Chair Gary Gensler’s discharge.
Crypto executives advocate for Gary Gensler’s dismissal
U.S. Deputy Secretary of the Treasury Wally Adeyemo, National Economic Council Director Lael Brainard, and White House Deputy Chief of Staff Bruce Reed attended the meeting. Kristine Lucius, the Director of Legislative Affairs for Vice President Kamala Harris, was among the other attendees.
In the crypto sector, the meeting was attended by the billionaire Mark Cuban, Circle’s CEO Jeremy Allaire, Ripple’s CEO Brad Garlinghouse, and Uniswap’s Hayden Adams.
The current legal framework, particularly the SEC in the United States of America, has prompted executives of cryptocurrency companies to express their apprehensions. The potential dismissal of SEC Chairman Gary Gensler was also discussed during the conversation, which demonstrates the industry’s dissatisfaction with what they perceive as aggressive actions toward digital assets.
The Anti-Crypto Treasury of Kamala Harris
It is rumored that Vice President Kamala Harris is considering Wally Adeyemo for the Treasury Secretary position if she is elected president. Adeyemo, the current Deputy Treasury Secretary, has been a vocal opponent of the cryptocurrency industry, contending that it threatens national security and can be used for illicit purposes.
This has caused concern among the crypto community regarding the future of digital assets in the United States, as his appointment may lead to increased regulation and enforcement. Primarily due to his attendance at the meeting.
This starkly contrasts Donald Trump’s stated policy that his initial action upon assuming office will be to terminate Gensler, the current chair of the SEC. Additionally, Cameron Winklevoss, the co-founder of Gemini, suggested that Kamala Harris terminate Gary Gensler’s demonstration of her commitment to the crypto industry. John Deaton, a supporter of this perspective, advised the Democratic presidential candidate Kamala Harris to demonstrate her commitment to the crypto community by endorsing Gary Gensler’s removal.
Political Trends in the United States and Upcoming Debates
The crypto industry is currently endeavoring to establish the issue as non-partisan as the 2024 election campaign intensifies. Donald Trump has been quite optimistic about cryptocurrency; however, Kamala Harris has not been as vocal despite her team’s recent engagement with the cryptocurrency industry.
Ali Martinez, a crypto analyst, also expressed his opinion on the political circumstance, stating, “Oh man! The likelihood of a pro-Bitcoin president is exceedingly low, with Trump’s probability at 50% and Kamala’s at 49%.
Amid these discussions, Donald Trump, the former president of the United States, has agreed to participate in a series of live debates with Harris in September. Donald Trump Jr. and Eric Trump have issued warnings about fraudsters impersonating the Trump family concurrently, as per a Coingape report. This suggests that the family may be planning a crypto-related initiative shortly.
