Trump chooses pro-crypto JD Vance as running mate

Former U.S. President and presidential candidate Donald Trump has announced Senator JD Vance as his running mate. Vance has advocated for clear cryptocurrency regulations and criticized the U.S. Securities and Exchange Commission’s (SEC) enforcement-based regulatory approach. His crypto stance aligns with Trump’s, who has positioned himself as the “crypto president,” expressing support for Bitcoin and pledging to end President Joe Biden’s anti-crypto policies.

• Trump shared his decision on Truth Social, coinciding with the start of the Republican National Convention in Milwaukee.
• Vance, a 39-year-old venture capitalist and Ohio senator, is seen as a rising star in the GOP, appealing to working-class voters.
• Despite being a former critic of Trump, Vance has aligned closely with him on key issues, earning his endorsement and winning a Senate seat in 2022.

JD Vance and Crypto

Vance, a member of the Senate Banking Committee, has been pushing for clear cryptocurrency regulations and drafting legislation to reform digital asset regulation in the U.S. In February, Vance and several other senators, including Bill Hagerty and Cynthia Lummis, wrote a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler expressing concerns about the agency’s enforcement actions and criticizing its conduct as unethical and unprofessional. Vance also voted for the repeal of the SEC’s controversial Staff Accounting Bulletin (SAB) 121. Moreover, he disclosed bitcoin holdings valued between $100,001 and $250,000 in 2022.

The senator’s crypto stance aligns with Trump’s, who has positioned himself as the “crypto president.” The former president has expressed strong support for the rights of cryptocurrency holders, earning considerable backing from the crypto community. He has pledged to halt President Joe Biden’s anti-crypto policies. Trump declared that the Biden-Gensler campaign against cryptocurrency would end within an hour of his second administration. In March, he referred to bitcoin as “an additional form of currency,” and in February, he acknowledged Bitcoin’s growing popularity, noting that it has “taken on a life of its own” and that he “can live with it.”