Trump Chooses a Pro-Crypto Running Mate!
Former President Donald Trump has named Senator JD Vance as his running mate for the 2024 presidential election. This choice strengthens the pro-crypto position of the Trump campaign, with Vance being known for his support of bitcoin and favorable crypto legislation.
JD Vance, Trump’s choice as running mate
JD Vance, Republican Senator from Ohio, stands out for his firm commitment to bitcoin and the crypto ecosystem.
His personal portfolio, containing between $100,000 and $250,000 in Bitcoin, demonstrates his confidence in this emerging asset class.
Beyond this significant investment, Vance has established himself as a key player in the development of a favorable legal framework for cryptocurrencies. He is currently leading an ambitious bill aimed at redefining the regulation of these assets in the United States.
This initiative, inspired by the Financial Innovation and Technology Act for the 21st Century (FIT21), seeks to establish a clear demarcation between the powers of the SEC and those of the CFTC in overseeing the crypto market.
Vance did not hesitate to directly confront Gary Gensler, the chairman of the SEC, criticizing his approach as overly restrictive. The senator advocates for a regulatory environment that encourages innovation while ensuring adequate investor protection.
A strong signal for the crypto industry
The nomination of Vance is part of a broader strategy by Donald Trump to attract the crypto-enthusiastic electorate. The former president, who had been skeptical of Bitcoin in the past, has made a complete turnaround. He now promises to make the United States a haven for cryptos if he is re-elected.
This new direction is already manifesting in Trump’s campaign. His team is accepting cryptocurrency donations, a first for a U.S. presidential candidate. The Republican Party has also incorporated pro-crypto stances into its platform, pledging to end the “unlawful crackdown” on the sector.
The impact on the crypto market was immediate. The price of Bitcoin saw a notable increase exceeding $64,000. The “Trump coin,” a shitcoin inspired by the former president, also saw its value jump by more than 11%.
The choice of JD Vance as running mate significantly strengthens Trump’s credibility with the crypto community. This decision could greatly influence the future of digital asset regulation in the United States once the duo is in power.
