Cryptocurrencies

Thousands of cryptocurrency and blockchain enthusiasts gathered in Austin, Texas, on…

Thousands of cryptocurrency and blockchain enthusiasts gathered in Austin, Texas from May 29-31 for the annual Consensus Conference. But as many listened to regulators and industry leaders discuss digital assets, the groundbreaking news quickly became the center of attention for many.

There was plenty to focus on in the 2024 consensus, with many senior executives and government officials in the same building. Topics included the recent passage of the 21st Century Financial Innovation and Technology Act by the US House of Representatives, SEC approval of spot exchange traded funds for Ethereum (ETH), threat from US President Joe Biden – and, on the last day of the event, a follow-up The veto of the SEC rule on banks managing cryptocurrencies and digital assets like Bitcoin (BTC) has become increasingly popular as a theme of campaign during the 2024 presidential election.

Cars, drugs and fashion

No subject seems off-limits. A group of people trolled Jamie Dimon with a campaign falsely claiming that the JPMorgan Chase CEO intended to appear at the Consensus Conference to discuss cryptocurrencies following a drug-induced revelation. The DeLorean from the 1985 film Back to the Future was on display – flux capacitor and all – and attendees had the chance to win a Ford Mustang by becoming the person who keeps their fist attached to the bar the longest. Many adults in costumes also attended the cryptocurrency conference, representing a brand or supporting a cause.

Photo: Jonathan de Jong, Cointelegraph

On May 30, as Independent Party presidential candidate Robert F. Kennedy Jr. spoke to a small room of media, news emerged that a jury had found Donald Trump guilty of 34 counts of falsified business documents in exchange for a $130,000 payment for an adult film. star. Stormy Daniels. This legal proceeding marked the first time in history that a current or former American president became a convicted criminal.

Industry reacts to felony conviction

RFK Jr. did not initially comment on Trump’s decision as part of the consensus, but later issued a statement on X calling the outcome “completely undemocratic.” John Deaton, a lawyer running for the U.S. Senate seat in Massachusetts against Elizabeth Warren, told Cointelegraph on May 30 that “the justice system will take care of itself” but that the decision will add “more fuel to the fire.” the division “.

Trump recently changed his campaign messaging on cryptocurrencies to suggest he can “live with it one way or another.” The former US president announced on May 21 that he would begin accepting donations in the form of digital assets, following a similar suggestion from his supporters at a dinner focused on non-fungible tokens. Trump faces hundreds of millions of dollars in compensation and damages related to civil suits for fraud and defamation.

about: Trump condemned: is the pro-cryptocurrency presidential candidate in danger?

Coincidentally, May 30 was also the big day when consensus conference participants discussed regulatory issues. Representatives from the Securities and Exchange Commission, the Commodity Futures Trading Commissions and several U.S. lawmakers responded to committee members’ concerns. On May 31, the crowd at the Austin Convention Center was sparser – perhaps due to the nightly events – but seemed enthusiastic and interested.

Overall, the event proved to be an opportunity for cryptocurrency users to react to a unique event and discuss its impact on the industry and advance regulation. The event is not expected to take place in Austin in 2025, but will take place in Toronto for the first time.

review: Crypto Voters Have Already Disrupted the 2024 Elections – and It’s Set to Continue

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