Former President Donald Trump selects crypto-friendly Senator J.D. Vance as his running mate
Former President Donald Trump has recently announced that he has chosen Senator J.D. Vance from Ohio as his vice presidential candidate. Vance, a former venture capitalist who transitioned into politics, has revealed in his latest financial disclosure that he owns between $100,001 and $250,000 worth of Bitcoin.
Trump and Vance unite in support of cryptocurrency
Earlier this year, Trump’s position on cryptocurrency shifted from skepticism to endorsement. His team started accepting donations in various cryptocurrencies through Coinbase in May, and he has been vocal in his support for the industry during his campaign. Despite Trump’s lead widening in post-debate surveys, some advocacy groups believe that Biden still has the chance to change his stance on crypto and take the lead.
In his Annual Report for 2022, filed in October 2023, Vance disclosed that he holds his Bitcoin on Coinbase and has accounts with Robinhood and Charles Schwab.
Vance has yet to announce his plans for further involvement in the cryptocurrency space, but with his ownership of Bitcoin and support from Trump, it is likely that he will continue to advocate for the industry if elected.
J.D. Vance’s Influence on Crypto Legislation
Senator J.D. Vance has been making waves in the world of cryptocurrency regulation, with his efforts to introduce clearer laws for the digital asset space. His proactive approach has garnered support from leaders in the crypto community.
A New Bill for Digital Assets Regulation
Vance recently introduced a bill aimed at overhauling how the United States regulates digital assets. According to sources, this new bill is expected to be even more favorable towards cryptocurrencies compared to the legislation passed by the House earlier this year.
Vance’s Role in Repealing SAB 121
As the first millennial on a major party presidential ticket, Vance has taken a strong stance on crypto issues. He supported the repeal of the SEC’s controversial staff accounting bulletin SAB 121, which would have eased restrictions on banks and broker-dealers holding digital assets. Despite passing through Congress, the repeal was vetoed by President Biden.
In a show of bipartisan concern, Vance and several GOP Senators wrote a letter to SEC Chairman Gary Gensler expressing worries about an enforcement case targeting the crypto industry.
The Legal Battle Over Firm Debt Box
A recent court ruling revealed that lawyers from the SEC had used deceptive tactics to freeze the assets and bank accounts of Debt Box, a financial firm. The judge found that false statements were used to justify this action, sparking controversy and raising questions about the agency’s practices.
Criticism of Gensler’s Regulatory Approach
Vance, a prominent figure in the financial industry, has publicly criticized Gensler’s handling of crypto and blockchain regulation. He believes that Gensler is bringing politics into the realm of securities and is taking the wrong approach to overseeing these innovative technologies. The dispute highlights differing perspectives on how to effectively regulate this rapidly evolving sector.
Former President Trump to Speak at Bitcoin Conference
In an unexpected turn of events, former President Trump is set to speak at a major Bitcoin conference in Nashville. Attendees are eager to hear his views on blockchain technology, digital asset custody, and the potential impact of a central bank digital currency. Trump’s presence is sure to draw attention and spark further discussion on the future of finance.
