"I still think that Bitcoin and blockchain have use cases in places with high inflation where you don't have responsible fed institutions and treasury departments... I don't think you can dismiss all of the use cases of blockchain or Bitcoin. That said we need far more regulation. Most importantly, things like Terra that took place where you had an algorithmic stablecoin without U.S. backing; there needs to be reserve requirements, there needs to be clear disclosure requirements on cryptocurrencies of what is taking place."
Does Ro Khanna Support Crypto?
Based on previous comments, Ro Khanna has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Ro Khanna has made about Bitcoin, Ethereum, and cryptocurrency innovation.
Quoted from www.youtube.com on Nov 22nd, 2022
Ro Khanna
@RepRoKhanna
Terra marketed themselves as a stablecoin. A stablecoin simply is something that is backed by dollars and Terra had no backing of dollars. To me, that’s highly deceptive and needs to be regulated. pic.twitter.com/v1NVdZg6My
2022-05-13T15:56:29.000Z · via Twitter
Cosponsored a bill on Apr 28th, 2022
Bill Name
Digital Commodity Exchange Act of 2022
Details
This bill allows for the regulation and registration of digital commodity exchanges subject to oversight by the Commodity Futures Trading Commission. The bill establishes the conditions for the sale of digital commodities, the registration of exchanges, and sets forth other requirements.
Quoted from finance.yahoo.com on Apr 18th, 2022
“It’s a huge tool,” he said. “I mean, what is cryptocurrency? At its core, it’s a technology that allows decentralization, it takes away a need for a third-party. You have a ledger, basically an accounting book that’s public, so you don’t need third-party verification.”
This logic, that the benefits of the digital economy must be decentralized, lines up with how he views crypto. To Khanna, crypto and other digital assets present an opportunity to “move power away from the financial or big tech centers and structure things in a way that gives more people ownership,” he told Yahoo Finance.
Ro Khanna
@RepRoKhanna
RT @RepNancyMace: Excellent news for the crypto community, thanks to my friend, @RepRoKhanna on our bi-partisan amendment. Thanks to @jerry…
2022-02-01T20:29:44.000Z · via Twitter
Ro Khanna
@RepRoKhanna
Agreed. We need well-crafted regulation to ensure that people pay their fair share of taxes from crypto earnings without crushing this new technology. twitter.com/repdarrensoto/…
2021-11-16T23:06:38.000Z · via Twitter