High-Level Discussions on the Future of Digital Assets
Senior executives from the cryptocurrency industry are set to meet with White House officials and Representative Ro Khanna this week to discuss digital asset concerns and propose policy changes for the next administration, sources familiar with the matter have revealed.
Among those expected to attend the meeting are outgoing senior White House adviser Anita Dunn, National Economic Adviser Lael Brainard, and Deputy Chief of Staff Bruce Reed. The source, who requested anonymity due to the private nature of the meeting, confirmed the participation of these key figures.
Anita Dunn, who is transitioning from her role as a senior adviser at the White House to a Democratic super PAC, is expected to play a significant role in Vice President Kamala Harris’ presidential campaign. This meeting marks the second recent interaction between the cryptocurrency industry and White House officials, following a roundtable in July attended by executives from Ripple, Coinbase Global Inc., Ms. Dunn, and Mr. Khanna, a California Democrat.
The discussions come at a crucial time as crypto has become a significant issue in the U.S. presidential campaign. Former President Donald Trump, the Republican nominee, has pledged to reverse the Biden administration’s stringent measures against the crypto industry if re-elected.
Cleve Mesidor, executive director of the nonprofit Blockchain Foundation and a former official in President Barack Obama’s administration, hosted a virtual meeting on Thursday with several hundred crypto industry participants. During the meeting, Ms. Mesidor and other Harris allies expressed optimism about the potential positive impact of a Harris-led White House on Web3 and decentralized finance, particularly for people of color working in the sector.
Ms. Mesidor noted that she has been in contact with various Democratic Party members close to Ms. Harris and advised the crypto industry to remain patient regarding the stance Ms. Harris may adopt on the issue. “With all of the priorities, with all of the various groups that in just a week-and-a-half have really coalesced around her, she’s not going to say ‘my biggest priority is crypto’ or ‘my biggest priority is climate,’” Ms. Mesidor said in an interview. “She has to be a leader that is tempered, that is measured, that’s pushing the teams.”
In light of President Joe Biden’s decision not to seek re-election, many in the crypto industry are hopeful that Ms. Harris’ campaign will adopt a more favorable position towards digital assets. Rob Hadick, a partner at crypto venture fund Dragonfly, articulated the industry’s aspirations, stating, “Most of us in the industry are both hopeful and, frankly, eager to have a potential Harris nominee embrace the industry. But we need to see a true commitment toward engaging with our best actors to encourage a thoughtful regulatory environment, a push for passage of good legislation that achieves the goal of clarity without stifling innovation, and a sidelining of those bad faith actors who have continually attempted to demonize hard working and well-meaning industry participants.”
As the crypto sector navigates this complex regulatory landscape, the upcoming meeting at the White House is poised to be a pivotal moment in shaping the future of digital assets in the United States. The industry’s leaders are keen to foster a regulatory environment that balances innovation with robust oversight, ensuring sustainable growth and broad-based participation in the burgeoning crypto economy.
