Marathon CEO: Biden Administration Shifts Position on Cryptocurrency or 55 million Voters Interest in Cryptocurrency
2024-06-25 09:46:25
Fred Thiel, CEO of Marathon Digital, shared his thoughts on the future of the cryptocurrency industry as well as the potential impact of the upcoming presidential election. He noted that the Biden administration has recently shifted its position, which may be due to the recognition that there are 55 million voters in the country who are interested in cryptocurrencies. Both the Senate and the House of Representatives passed a resolution to repeal the Securities Exchange Commission's Employee Accounting Bulletin 121 (SAB 121), which was later vetoed by Biden. The cryptocurrency industry has raised some complaints about SAB 121, saying its main issues are increased operational complexity and compliance costs. I think there is more bipartisan cooperation on this to get it passed.
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