US Biden camp to allow crypto contributions, Coinbase's Brian Armstrong busy with senatorial meetings

The US political landscape is shifting toward pro-crypto policies.
Former U.S. President Donald Trump, who previously added cryptocurrency to his presidential campaign contribution options, also uses Coinbase Commerce.

“The Biden campaign's decision is part of an effort to win over crypto voters,” the source explained. “The Biden campaign is keenly aware of the crypto issue and wants to create the perception that they are not the enemy of crypto,” another source said. The Biden campaign's change in tone comes after a backlash from within and outside the industry over his veto of a congressional effort to override accounting guidance (SAB 121) on cryptocurrency custody obligations for financial firms. There are also voices within and outside the campaign that say 'silence on the crypto issue could cost us the election,'” said Mr. Khan.

Meanwhile, Coinbase CEO Brian Armstrong recently met with more than a dozen Democratic and Republican senators in Washington over the past two days to discuss the crypto industry. “We discussed the need for clear regulations and consumer protections for crypto,” he said.