Crypto Execs Express Concerns to Biden-Harris White House Officials

Crypto industry leaders and top White House officials convened virtually for the second time in a month to discuss the future of U.S. crypto policy, The Block reports.

What’s the scoop?

• Key Participants: The meeting featured U.S. Deputy Treasury Secretary Wally Adeyemo, National Economic Council Director Lael Brainard, White House Deputy Chief of Staff Bruce Reed, and a host of representatives from the crypto industry including Ripple's Brad Garlinghouse, Andreessen Horowitz GP Chris Dixon and Uniswap CEO Hayden Adams.
• Significance of Attendance: Adeyemo and Brainard's presence proved particularly important, bringing in senior-level officials directly responsible for setting crypto policy within the Biden administration.
• Focus of the Meeting: The discussion focused on use cases, policy outcomes, economic impact, and regulatory approaches. A source told The Block there was also a strong "airing of grievances."
• Political Moves: Rep. Ro Khanna (D-Calif.) organized the event. Coinbase's Chief Legal Officer, Paul Grewal, urged the White House to back Senate efforts for a bipartisan crypto market structure bill.

Bankless Take:

While the success of these discussions can only be measured in actions (yet to come), the first step towards that progress is getting everyone in a room together. As mentioned, Brainard and Adeyemo’s attendance does suggest that the Biden administration is beginning to take crypto more seriously. It is viewed as a huge step forward from last month’s meeting and possibly sets the stage for more informed and comprehensive policy discussions. While Harris’ team has begun reaching out to the industry, she has yet to take any official stance or issue comment on the industry directly.