Advisers to the Biden administration recently had a conference call with top crypto stakeholders, including Ripple and Coinbase executives.
During the Zoom call yesterday, the crypto stakeholders voiced concerns about the administration’s stringent regulatory policy. Despite the concerns raised, advisers to the Biden administration did not promise any policy changes.
White House and Crypto Participants
The meeting attendees include notable crypto executives such as Ripple CEO Brad Garlinghouse, Anthony Scaramucci of SkyBridge, Circle CEO Jeremy Allaire, Kraken CEO David Ripley, Uniswap CEO Hayden Adams, and top American businessmen Mark Cuban and Chris Dixon.
On the other hand, government representatives include Director of the Vice President’s Legislative Affairs Kristine Lucius, Deputy Chief of Staff Bruce Reed, Deputy Treasury Secretary Wally Adeyemo, National Security Adviser Lael Brainard, and other high-profile officials.
Bloomberg, which claimed to have seen the full list of Zoom Call attendees, reported that a Ripple spokesperson confirmed that Garlinghouse and the company’s chairman, Chris Larsen, were in the meeting.
Ripple and Coinbase Criticize Biden’s Strict Crypto Policies,
For context, Coinbase and Ripple have publicly criticized the Biden administration’s crypto policies, which they characterized as anti-innovation. Notably, both companies are victims of the SEC’s enforcement actions.
The SEC’s lawsuit against Coinbase is still in its early phase. However, the Ripple legal tussle ended this week in the Southern District of New York after the final verdict was issued.
Democrats Seek to Lure Crypto Voters
As the industry faces intense regulatory scrutiny in the U.S., its leaders are hoping to turn things around by supporting pro-crypto politicians from the Republican Party in the upcoming election.
Interestingly, former President Donald Trump is the preferred candidate for crypto enthusiasts. Some of his campaign promises include supporting Bitcoin mining and sound policy for the industry.
Consequently, crypto enthusiasts, including Ripple CLO Stuart Alderoty, have made significant donations to his campaign. As reported earlier, Alderoty supported Trump’s campaign with 624,000 XRP, valued at around $300,000.
Amid Trump’s growing support from crypto stakeholders, the Kamala Harris presidential campaign organizers have been working relentlessly to rebuild the relationship between the Democratic Party and the industry. This has led to a series of meetings as part of efforts to woo crypto voters.
Last month, Garlinghouse revealed that top crypto executives had a roundtable discussion with White House representatives. According to him, the meeting marked the first major step toward transforming words into actual action regarding crypto regulation.
