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Interestingly, US President Joe Biden administration officials are set to attend a Bitcoin roundtable in Washington DC in early July, according to the report.
The roundtable is chaired by Rep. Ro Canna (D-CA) and will include Biden administration officials, lawmakers from both the House and Senate, and billionaire Mark Cuban, according to documents shared with Bitcoin Magazine.
Only representatives Khanna and Kuba were identified in the report.
The purpose of the roundtable is to support innovation in Bitcoin and the wider crypto ecosystem in the country.
Notably, Representative Khanna is a pro-crypto politician who has championed financial innovation and technology for the 21st century, specifically known as FIT21.
When Cuban addressed Coinbase's State of Crypto audience last week, current Securities and Exchange Commission (SEC) chief Gary Gensler said Gensler's anti-crypto stance could cost the current president his office.
Decrypt reached out to Rep. Khanna's office but did not receive an immediate response.
This development comes as a positive surprise to market participants as the current Biden administration has become famous for its anti-crypto stance.
On June 1, President Biden vetoed the Staff Accounting Bulletin (SAB) 121 bill, which received bipartisan support from the House. The current president said the bill would weaken the SEC's authority and harm investors and consumers. The bill would have given financial institutions the ability to hold bitcoins alongside other cryptocurrencies.
Ironically, this apparent change of heart from the current Biden administration comes months before the upcoming US presidential election and days after former US President and Republican candidate Donald Trump announced his unwavering support for Bitcoin and Bitcoin mining.
Crypto may play a major role in the upcoming US presidential election as both candidates are neck and neck according to the polls. So a pro-crypto candidate may have an edge over an anti-crypto candidate.
Building support among the crypto community, Trump vowed to never allow the creation of a central bank digital currency (CBCC) if re-elected. And earlier this month, the presumptive Republican nominee dubbed himself the “Crypto President” during a fundraiser.
In May, the former US president announced that his campaign would now accept cryptocurrency as donations.
Edited by Stacy Elliott.
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