Republican presidential nominee Donald Trump has chosen cryptocurrency-friendly Senator JD Vance as his vice president.
President Trump announced his victory on Monday in a post on TruthSocial that was widely circulated on social media.
“After much thought and consideration, and after considering the tremendous talents of many others, I have decided that the person best qualified to serve as Vice President of the United States is Senator J.D. Vance of Ohio,” Trump posted.
The Ohio Republican has been supportive of the cryptocurrency industry and has been critical of the U.S. Securities and Exchange Commission. Last year, Vance, along with other Republicans, sent a letter to SEC Chairman Gary Gensler expressing concerns about inaccurate statements the agency made to the SEC. lawsuit Against cryptocurrency startup DEBT Box.
Vance, who is also a member of the Senate Banking Committee, is working on legislation to regulate the industry and plans to introduce the legislation in July. Politico It was reported last month that the House of Representatives said that members Bill In May, a bill was passed to regulate large-scale cryptocurrencies. Known as FIT21, the bill Gives the Commodity Futures Trading Commission more power and funding to oversee cryptocurrency spot markets and “digital commodities,” particularly bitcoin.
According to Politico, Vance plans to revamp FIT21 and take a more industry-friendly approach.
Cryptocurrencies have become a part of the presidential campaign. Trump has been vocal about his support for cryptocurrencies in the months leading up to the November election. He told attendees at Mar-a-Lago early last month that he would advocate for Bitcoin mining from the White House, saying that miners contribute to energy grid stability. He also said he would accept political donations in the form of cryptocurrencies and that he would end “Joe Biden’s crypto-smashing crusade.”
President Trump is also scheduled to speak. ~ in Bitcoin 
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The 2024 conference takes place next week in Nashville.
Meanwhile, President Joe Biden’s reelection campaign is reaching out to members of the cryptocurrency industry for guidance on digital asset policy, according to a report from The Block , marking a significant shift from the Biden administration’s less-than-friendly stance on cryptocurrencies.
“Former President Trump has made clear that supporting our nation’s digital asset entrepreneurs will be a priority if he wins a second term,” Blockchain Association CEO Christine Smith said in a statement Monday. “And as a rising voice advocating for purposeful, transformative cryptocurrency legislation, Senator Vance is the ideal candidate to lead the Republican Party on its principles. We’re encouraged that support for cryptocurrency is becoming a touchstone for political candidates.”
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