The President of the United States, Joe Biden, has reportedly banned his communications director from handling matters that were related to any technology or crypto firms that he has previously worked with- despite still allowing him to suggest matters of crypto regulation.
According to a Bloomberg Law report from the 21st of April, Director Ben LaBold of White House Communications has been barred from participation in investigations, legal matters, or contracts that involve cryptocurrency or even technology firms that have been represented previously. Uniswap, the decentralized exchange, and Andreessen Horowitz, the venture capital firm, were one of the earliest clients of Bully Pulpit Interactive- where LaBolt was simply a partner, according to a public financial disclosure report that was published on 21st April.
Joe Biden’s Comms Director Banned From Crypto Industries
The report included Shopify, Meta Platforms, and West Street- which was the family office of the CEO of Meta Mark Zuckerberg, and his wife Priscilla Chan. Interestingly, in the income and assets section, LaBolt disclosed that he held close to $50,001- $100,000 in Bitcoin, and around $15,001 to $50,000 in Ethereum 2. Despite multiple restrictions put in place, it was reported that LaBolt would be given permission to advise on the approach of Joe Biden in regulating cryptocurrency and other social media companies. This news came after the President had already signed an executive order on digital assets on 9th March.
The executive order from Joe Biden attracted the attention of several industry leaders and government officials. Cynthia Loomis, the Republican Crypto Senator from Wyoming, also went on to comment on the executive order, stating that it was great to see the administration of Biden showing a growing interest in digital assets.
