- Republican presidential candidate Donald Trump announced Ohio Senator J.D. Vance as his vice presidential nominee.
- Vance, a Bitcoin investor, has a history of supporting the crypto community and criticizing the SEC’s regulatory approach, having introduced and supported pro-crypto legislation since his election to the Senate in 2022.
On Monday, July 15, the Republican party’s presidential candidate Donald Trump announced his party’s vice presidential nominee J.D. Vance as his running mate for the upcoming US elections. The Ohio Senator Vance is popular for his pro-crypto stands in the past and thus could play a crucial role in introducing crypto-friendly policies if Trump manages to win the upcoming elections, per the CNF update.
Interestingly, J.D. Vance is himself a Bitcoin investor and holds a BTC worth anywhere between $100,000-$250,000. Vance revealed his Bitcoin holdings in a 2022 financial disclosure report for the US Senate. On Monday, Vance said that he was overwhelmed by the opportunity bestowed upon him.
Just overwhelmed with gratitude.
What an honor it is to run alongside President Donald J. Trump. He delivered peace and prosperity once, and with your help, he’ll do it again.
Onward to victory!
— J.D. Vance (@JDVance1) July 16, 2024
In his presidential campaign this time, former US President Donald Trump has projected himself as the savior of crypto innovation. He has also reached out to the crypto industry players and said that he would whole-heartedly support the Bitcoin mining industry if he becomes the President, reported Crypto News Flash.
On Monday, Trump lauded Vance for his “very successful business career in technology and finance” and his advocacy for American workers. Vance brings notable crypto credentials to the presidential race. Since his election to the Senate in 2022, he has introduced and supported pro-crypto legislation.
J.D. Vance’s Support to the Crypto Community
So far, J.D. Vance has always spoken in favor of the crypto community while slamming the U.S. Securities and Exchange Commission in the past, for their high-handed approach towards the crypto industry.
Back in May this year, Vance had voted to repeal the SEC’s controversial staff accounting bulletin, SAB 121, which restricts certain banks and broker-dealers from holding digital assets. Unfortunately, despite passing by a majority in both chambers of Congress, the Biden administration decided to veto in order to continue with the rule.
Additionally, Vance had also approached SEC chairman Gary Gensler in February this year, expressing concerns regarding the enforcement case against crypto firm Debt Box. In this case, a judge found that SEC lawyers had used false statements to justify freezing the company’s assets and bank accounts.
“It is unconscionable that any federal agency…could operate in such an unethical and unprofessional manner,” Vance wrote. “…trust is undermined, and your mission compromised, by episodes like the DEBT Box case.”
Vance has criticized Gensler for his regulation of crypto and blockchain technology, accusing him of injecting too much politics into securities regulation. He described Gensler’s approach to regulating crypto and blockchain as “the exact opposite of what it should be.”
As reported by Crypto News Flash, Standard Chartered Bank expects Bitcoin to hit $150,000 if Trump becomes President. Bitcoin has gained strong momentum during the last weekend after Trump survived a major assassination attempt. Presently, the Bitcoin price is trading around $63,000.
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