A bipartisan future for crypto? Ro Khanna weighs in at DAS

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Hello from the Digital Asset Summit! 

In case you missed it, Rep. Ro Khanna of California kicked off the policy conversation as the first elected official to take the stage as a speaker. 

Khanna, a Democrat representing parts of the San Francisco Bay Area, says blockchain is a hot topic in his district. 

“I understood from conversations with many different entrepreneurs and leaders that this was a very important technology,” he said. “That’s why I never understood why it became so political.”

He’s served in the House since 2017, but Trump 2.0 looks a lot different than the president’s first term, especially for crypto. 

Trump and his team have been more than happy to accept the title as instigators of the pro-crypto shift in Washington. But Democrats can help the industry too, Khanna said, even if the party traditionally hasn’t been on board.  

“T​o me, this is about the extension of American leadership and influence. But I don’t think the Democratic Party fully understood that.”

Khanna’s appearance comes shortly after Congress passed a DeFi broker CRA resolution with bipartisan support. 

Khanna was one of 76 Democrats in the House to vote in favor of the measure, which seeks to overturn an IRS rule classifying decentralized operations as brokers. The resolution now heads to President Trump’s desk. 

In terms of what’s next on Capitol Hill, Khanna said members are now prioritizing getting a stablecoin bill passed. Also on the docket is a market structure bill. Trump has told lawmakers he wants a bill on his desk by the end of the summer; I fear that’ll be here before we know it.

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