Crypto Executives Voice Concern to White House Advisers on Conference Call
During a recent Zoom discussion, advisers from the Biden administration did not commit to any specific actions in response to the concerns raised by representatives from the cryptocurrency industry, according to an attendee. The discussion did not cover any potential policy adjustments and included officials from companies like Coinbase Global Inc., Kraken, and Ripple Lab. This session follows a similar conversation that took place in July. A request for comment from a White House spokesperson remained unanswered.
Executives from Coinbase and Ripple, who have been vocal critics of the current government's approach to cryptocurrency regulation and the actions of the US Securities and Exchange Commission, were present. These companies have also significantly contributed to the political action committee Fairshake in this election cycle.
In contrast, the campaign of former President Donald Trump, the Republican nominee, has recently shown strong support for the cryptocurrency sector, including promises to back Bitcoin mining in the United States and opposition to central bank digital currencies. Meanwhile, the positions of the Harris campaign on key industry issues have not been publicly disclosed yet.
Paul Grewal, Coinbase's Chief Legal Officer, emphasized the importance of looking ahead, noting his recent interactions with the Harris campaign starkly differed from the discussions in the latest call. Key figures such as Bruce Reed, Deputy Chief of Staff; Lael Brainard, National Economic Adviser; Congressman Ro Khanna from California; and Kristine Lucius, Vice President’s senior adviser and director of legislative affairs, participated in the call. Deputy Treasury Secretary Wally Adeyemo was also present.
The meeting included other notable industry figures like Ripple CEO Brad Garlinghouse, Anthony Scaramucci of Skybridge, Jeremy Allaire from stablecoin issuer Circle, Hayden Adams of the Uniswap project, Kraken CEO David Ripley, and venture capitalists Ron Conway, Chris Dixon, and Mark Cuban. Garlinghouse's attendance was confirmed by a Ripple spokesperson. The Treasury Department has declined to comment, and other participants did not immediately respond or could not be reached for comment.
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