Donald Trump

JD Vance

Donald Trump’s vice presidential candidate, JD Vance, has made headlines as the first bitcoin holder to run for Vice President.&nbsp;
<blockquote>
 “After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio,” Donald Trump stated in Truth Social.
</blockquote>
Vance's history and actions in the Senate illustrate his strong support for the crypto sector, making him a notable figure in the upcoming presidential race.
&nbsp;
JD Vance has been a vocal advocate for Bitcoin and other digital currencies. Since his election to the Senate in 2022, Vance has introduced and supported pro-crypto legislation.&nbsp;
<h2 dir="ltr" id="span-span-legislative-efforts-span-span">Legislative Efforts</h2>
One of Vance's significant actions was voting to repeal the SEC's controversial&nbsp;<a style="text-decoration:none" href="https://www.americanbanker.com/news/effort-to-overturn-biden-veto-on-crypto-banking-rule-sab-121-fails">Staff Accounting Bulletin 121</a>. This bulletin restricted banks and broker-dealers from holding digital assets.&nbsp; The repeal passed both chambers of Congress in May but was vetoed by President Biden.&nbsp;
&nbsp;
Further, in February, Vance&nbsp;<a style="text-decoration:none" href="https://www.foxbusiness.com/politics/donald-trump-j-d-vance-create-pro-crypto-presidential-ticket">co-authored</a> a letter to SEC Chairman Gensler, expressing concerns over an enforcement case against the crypto firm Debt Box. A judge found that SEC lawyers used false statements to justify freezing assets and bank accounts associated with the company. Vance criticized this behavior, highlighting the need for ethical conduct within federal agencies.
<div>
 <blockquote class="twitter-tweet">
 👀👀👀 NEW VIDEO Ohio Senator JD Vance on Gensler: He is way way way too political in his regulation of securities. He has it backwards when wanting to ban useful tokens and seemingly not caring about those without specific utility. Sen. Vance sees blockchain as key to… <a href="https://t.co/yKoNmk4Bm4">pic.twitter.com/yKoNmk4Bm4</a>— Bill Hughes : wchughes.eth 🦊 (@BillHughesDC) <a href="https://twitter.com/BillHughesDC/status/1762547166348775770?ref_src=twsrc%5Etfw">February 27, 2024</a>
 </blockquote> 
</div>
<h2 dir="ltr" id="span-span-financial-disclosures-and-market-influence-span-span">Financial Disclosures and Market Influence</h2>
In 2022, Vance disclosed&nbsp;<a style="text-decoration:none" href="https://www.independent.co.uk/tech/trump-bitcoin-vance-pro-crypto-b2580495.html">holding between $100,000 and $250,000</a> worth of Bitcoin. This amount would be worth between $136,000 and $390,000 today. His latest Senate financial disclosure does not list any buying or selling of cryptocurrencies, suggesting he still holds his Bitcoin.&nbsp;
&nbsp;
Crypto advocates quickly&nbsp;<a style="text-decoration:none" href="https://x.com/RyanSAdams/status/1812933662880514479">celebrated</a> Vance’s nomination, marking the first "bitcoiner" on a presidential ticket.&nbsp;
<div>
 <blockquote class="twitter-tweet">
 JD Vance is Trump's VP pick and the likely next Vice President. He strongly supports crypto. He voted for SAB121 repeal. He's a holder - owned $250k bitcoin 2022 - likely more now. He's slammed gensler in open letters. Further evidence that Trump white house is pro-crypto. <a href="https://t.co/lfbytKYII4">pic.twitter.com/lfbytKYII4</a>— RYAN SΞAN ADAMS - rsa.eth 🦄 (@RyanSAdams) <a href="https://twitter.com/RyanSAdams/status/1812933662880514479?ref_src=twsrc%5Etfw">July 15, 2024</a>
 </blockquote> 
</div>
<h2 dir="ltr" id="span-span-protecting-crypto-firms-span-span">Protecting Crypto Firms</h2>
In 2023, Vance introduced a bill to protect crypto firms and exchanges from being cut off by traditional banks. Additionally, draft legislation for another industry-friendly bill is circulating, showing Vance's stance on supporting the sector.
<h2 dir="ltr" id="span-span-opposition-to-anti-crypto-measures-span-span">Opposition to Anti-Crypto Measures</h2>
Vance has consistently&nbsp;<a style="text-decoration:none" href="https://protos.com/donald-trump-picks-bitcoiner-jd-vance-for-running-mate-at-rnc/">opposed measures</a> that he views as harmful to the crypto industry. In 2021, he spoke out against an amendment to the Infrastructure Bill, claiming it would effectively ban Bitcoin and other popular cryptocurrencies.&nbsp;
&nbsp;
JD Vance's inclusion as Trump's VP pick signals a pro-tech, pro-Silicon Valley, and pro-American dynamism outlook. This perspective aligns with the goals of many in the crypto industry who seek a supportive regulatory environment and innovative policies.

How Pro-Crypto is Trump's VP Pick JD Vance?

Table of Contents

BSCN

Other articles published on Jul 25, 2024

LayerZero Sybil Bounty Program Has Now Completed 10% Token Distribution to Hunters

Ferrari to Extend Cryptocurrency Payments to Europe by July End

Ripple and SEC Hold Meeting as XRP Price Rises

Expert Picks: Discover the Best Altcoins to Buy in 2024 for Maximum Growth and Profit Potential

Spot Ethereum ETFs saw $133m outflow on second trading day

Acre launches Bitcoin Staking on mainnet in partnership with Xverse

Join our free newsletter for daily crypto updates!