- Donald Trump has selected pro-crypto Senator J.D. Vance as his running mate.
- Vance’s pro-crypto stance complemented Trump’s support for digital assets.
As a seasoned financial analyst who has closely followed the crypto market and its regulatory landscape, I believe that Donald Trump’s decision to select Senator J.D. Vance as his running mate for the upcoming U.S. presidential election marks a significant shift in the political narrative surrounding cryptocurrencies.
Following a failed assassination attempt on the 14th of July, ex-President Donald Trump graced the stage for the first time at the Republican National Convention held in Milwaukee.
Trump chooses Vance as Vice President
During the event, Trump introduced Ohio Senator J.D. Vance as his chosen partner for the forthcoming U.S. presidential election.
Based on available information, J.D. Vance has been identified as a prominent cryptocurrency advocate by Coinbase’s “Stand With Crypto” program. This recognition stems from his active support for crypto on social media platforms and his pro-crypto voting history.
Taking to Truth Social, Trump noted,
After careful consideration and reflection, taking into account the impressive abilities of various contenders, I have made the decision that Senator J.D. Vance from the esteemed state of Ohio is the most qualified individual to become the Vice President of the United States.
The attendance of Trump at the Bitcoin Conference 2024, confirmed despite a recent attack, underscores his ongoing endorsement of cryptocurrencies.
Highlighting his gratefulness, Vance said,
Vance against Gensler?
Vance is renowned for his strong support for cryptocurrencies and his criticisms towards SEC Chair Gary Gensler’s regulatory methods in this field.
At the exclusive Remedy Fest conference, co-hosted by Y Combinator and Bloomberg on February 28th, Vance shared his perspectives and made some statements.
Among all the candidates I’ve encountered, Gary Gensler is the one whose views and beliefs differ most significantly from mine.
Attacking Gensler’s approach towards crypto, Vance added,
“Gary’s method for overseeing blockchain and cryptocurrencies runs counter to how it ought to be handled.”
Vance continued support for crypto
As a analyst, I’ve observed that Vance hasn’t kept quiet on the subject of cryptocurrencies before. On May 16th, he took action by joining forces with sixty other senators in an attempt to overturn the SEC’s SAB 121 regulations. These guidelines limit US banks from holding crypto assets.
Previously, on February 7th, Vance spearheaded a group of Republican senators in writing a letter to Gensler, expressing their disapproval towards the SEC’s move against crypto mining company Debt Box.
In addition, according to a 2022 financial declaration, Vance disclosed ownership of Bitcoin valued between $100,001 and $250,000.
Trump likely to attract more crypto community votes
Over the past few months, I’ve noticed a shift in sentiment among crypto enthusiasts towards supporting Donald Trump. According to Sam Lyman, a well-known figure in the crypto sphere previously active on Twitter, this trend has gained significant traction within our community.
“The Trump-Vance ticket = a profound sea change for the digital asset industry.”
Reiterating the same, @Eug_Ng added,
“This is actually even more bullish now for crypto with a Trump-Vance presidential win.”
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2024-07-16 15:36