As a seasoned crypto investor with a keen interest in political developments that could impact the industry, I am thrilled about the recent news of J.D. Vance being selected as Donald Trump’s vice presidential candidate for the upcoming elections. Trump has long been an advocate for the crypto community and pro-crypto policies, and Vance’s tech-savvy background and personal investment in Bitcoin further strengthens his commitment to the space.
On Monday, July 15, it was revealed that Donald Trump, the ex-US President, intends to choose J.D. Vance, a tech-savvy and pro-crypto individual, as his running mate for the Republican Party in the forthcoming elections.
During his presidential campaign, Donald Trump has repeatedly expressed his intention to advocate for the crypto community and implement crypto-friendly legislation should he be elected as the next U.S. President. J.D. Vance likewise lends credibility to the cryptocurrency sector.
As a newly appointed Senator in 2022, I have taken it upon myself to advocate for cryptocurrency-friendly legislation in the Senate. Furthermore, I have personally invested over $100,000 in Bitcoin.
As a researcher examining recent financial disclosures, I’ve discovered that Mike Pence’s running mate, J.D. Vance, holds an investment between $100,000 and $250,000 in Bitcoin (BTC).
I wanna know which member of Congress/Congressional candidate owns the most Bitcoin. 🤔
— Eleanor Terrett (@EleanorTerrett) July 16, 2024
J.D. Vance’s Support to Crypto Industry
J.D. Vance is the first millennial to secure a spot on the Presidential ticket and has advocated for crypto-friendly policies consistently. Not long ago, Vance supported a legislative move to abolish the Securities and Exchange Commission’s (SEC) contentious staff accounting bulletin, SAB 121. This regulation prohibits certain banks and brokerage firms from owning digital assets. However, the Biden administration rejected this bill, which had garnered a full majority in both houses of Congress.
In February of this year, Vance and other Republican legislators penned a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler, raising issues with the SEC’s enforcement action against crypto firm Debt Box. A court ruling disclosed that SEC attorneys had employed misrepresentations in their justification for seizing the company’s assets and financial accounts.
“Vance found it shocking that a federal agency could behave in such an immoral and unacceptable way. Trust is eroded, and the mission is put at risk, due to incidents like the DEBT Box scandal.”
As a researcher studying the regulatory landscape of cryptocurrencies and blockchain technology, I’ve taken notice of Vance’s criticisms toward SEC Chairman Gensler’s approach. He’s been vocal about his concerns that Gensler is politicizing the securities business by regulating in a way that, from Vance’s perspective, goes against the grain. In fact, he’s gone so far as to label Gensler’s regulatory tactics as being “the complete opposite of what it should be.”
Last year, Senator Vance presented a Senate bill named the Financial Regulatory Accountability Act. The main objective of this legislation was to ensure federal banking regulators could not impede cryptocurrency companies’ access to banking services. In an interview with Fox Business, Sam Lyman, Riot Platforms’ Public Policy Director, expressed his belief that “Senator Warren’s ‘anti-crypto faction’ would be no match for a Trump-Vance administration.” He further emphasized, “This is the ideal ticket for anyone advocating for self-sovereignty and the liberty to transact.”
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2024-07-16 11:27