News

Crypto Executives Meeting with White House Takes Place to Promote New Law

Key Points:

Crypto executives meeting with White House officials discussed future regulations and industry impact.
Coinbase’s Paul Grewal pushed for White House support on new crypto legislation.

According to The Block, key industry leaders virtually sat down with senior White House officials Thursday to discuss upcoming cryptocurrency regulations and policy directions.

Crypto Executives Meeting on Future Crypto Regulations

The crypto executives meeting started at around noon Eastern and represents the second such gathering in about a month.

The high-profile government list of attendees included U.S. Deputy Secretary of the Treasury Wally Adeyemo, National Economic Council Director Lael Brainard, White House deputy chief of staff Bruce Reed, Rep. Ro Khanna of California, who hosted the event, and Kristine Lucius, director of legislative affairs to Vice President Kamala Harris.

There was a long list of notable crypto industry participants, such as Ripple executives Brad Garlinghouse and Chris Larsen, Uniswap CEO Hayden Adams, Stellar Development Foundation’s Denelle Dixon, Circle CEO Jeremy Allaire, and Coinbase Chief Legal Officer Paul Grewal.

Also added to the list were billionaire Mark Cuban, former White House Communications Director Anthony Scaramucci, and Kraken CEO David Ripley. Others present included policy advisor Joshua Schenk and venture capitalist Ron Conway.

The venting of grievances was part of the discussion, along with the possible policy ramifications. The topics included expectations of regulators, the impact of the industry on employment, and the economy. Grewal, from Coinbase, urged the White House to support some soon-to-be-proposed legislation that would provide a regulatory framework for the crypto market, as the House had passed a market structure bill in May with Democratic support.

Crypto Industry Steps Up Engagement During Election Season

The crypto executives meeting follows a similar gathering held last month in Washington D.C. in a far larger meeting with discussions of similar topics. As election season heats up, crypto has decided on involvement in political campaigns.

Crypto candidates have been piling up interest as even Kamala Harris and Donald Trump reach out to the sector for involvement. Harris’ team has lately reached out to crypto leaders following President Biden’s decision not to seek re-election. Crypto4Harris will host a town hall next week with industry leaders such as Sheila Warren and Mark Cuban.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.