By Kanishka Singh

WASHINGTON (Reuters) - Former U.S. president and current Republican presidential candidate Donald Trump will speak at Bitcoin 2024 in Nashville, Tennessee, on July 27, the organizers of the conference said on Wednesday.

WHY IT'S IMPORTANT

Trump, who is running against Democratic President Joe Biden in November's U.S. election, presented himself during a San Francisco fundraiser in June as a champion for cryptocurrencies and slammed Democrats' attempts to regulate the sector.

The crypto industry is increasingly trying to influence U.S. politicians amid heightened scrutiny from regulators following bankruptcies at major crypto firms in 2022 that spooked investors and exposed fraud and misconduct, and left millions of investors out of pocket.

KEY QUOTES

"Trump announced his support for the American Bitcoin industry in May 2024, advocating for financial freedom and the growth of the U.S. Bitcoin industry on the global stage," organizers said on the conference website, describing Trump as the event's main headliner.

Trump also recently indicated he would like to see more bitcoin mining by U.S. firms.

"We want all the remaining Bitcoin to be MADE IN THE USA," Trump said on his Truth Social platform in June.

CONTEXT

Executives from crypto exchange Coinbase, crypto investor twins Tyler and Cameron Winklevoss, and other crypto leaders were in attendance at the tech fundraiser in June in San Francisco where Trump raised $12 million.

The White House under Democrat Biden has said it is eager to work with Congress to develop a regulatory framework for cryptocurrencies.

(Reporting by Kanishka Singh in Washington; Editing by Tom Hogue)