Biden Campaign Reaches Crypto Industry on Policy Change as Cathie Wood Says Policy Gets Approval for Ethereum ETFs

The Block reports that Joe Biden’s campaign has reversed its anti-crypto stance and is reaching out to cryptocurrency experts for input on cryptocurrency policy.

The Biden campaign is seeking input from players in the cryptocurrency industry regarding “the cryptocurrency community and cryptocurrency policy moving forward,” sources with direct knowledge of the matter told The Block.

TThe sources added that the communication represents a major “shift” in Biden’s attitude towards the digital assets industry. This news comes as Cathie Wood, founder and CEO of ARK Invest, said the surprise approval was immediate Ethereum ETFs (exchange-traded funds) last week was Raised by politics.

Joe Biden and Donald Trump campaign change their stance on cryptocurrencies

The Biden campaign’s surprise push to understand the cryptocurrency space comes after Web3 experts opposed the president’s plan to veto the repeal of SAB 121.

It also comes after former President Donald Trump went from calling cryptocurrencies a “very dangerous thing” in 2021 to announcing on May 21 that his re-election campaign would continue. Accept donations in crypto.

Sources in the former president’s inner circle told The Block that the Trump campaign is already receiving advice from “very smart and capable people” in the cryptocurrency space.

But Biden’s pushback on cryptocurrencies has left some industry players feeling skeptical, with one source telling The Block that the latest outreach by the Biden campaign may be “too little, too late.”

Ethereum ETFs have been approved in a political move

Wood believes that the sudden and unexpected approval of ETH spot ETFs was politically motivated.

“The reading was that it wouldn’t be approved,” she said. “It was never approved. If it had been approved the usual way, we would have been taking questions from the SEC. No one was taking questions from the SEC beforehand.”

There is nothing more powerful than an idea whose time has come. pic.twitter.com/vTdbKHn6L8

– Michael Saylor⚡️ (@saylor) May 26, 2024

The ARK Invest CEO said Trump has become “more comfortable with bitcoin and cryptocurrencies in general.” She added that this caught the attention of the Biden administration.

Related articles:

PlayDoge (PLAY) – The latest ICO on the BNB chain

• 2D Virtual Doge Pet
• Play to earn Meme Fusion Coin
• Staking and in-game token rewards
• SolidProof – playdoge.io has been audited