Vice President JD Vance Encourages Crypto Enthusiasts to Engage in Politics
Vice President JD Vance urges the cryptocurrency industry to stay active in politics after addressing a bitcoin conference in Las Vegas. He highlighted the importance of clear regulations to prevent the industry from moving overseas. Vance praised Trump’s administration for its pro-crypto stance and the mobilization of the crypto community during elections, while stressing the need for the U.S. to lead in crypto innovation against global competitors like China.
Vice President JD Vance spoke at a bitcoin conference in Las Vegas, encouraging crypto enthusiasts to engage more in U.S. politics. He claimed the cryptocurrency sector has a significant impact on the country’s future due to its close ties during the Trump administration. “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens,” Vance stated. He warned that without clear regulations, the booming $3 trillion industry could relocate abroad.
Vance’s comments echoed former President Donald Trump’s earlier promises to position the U.S. as the global hub for cryptocurrency. Crypto advocates feel they faced unfair scrutiny under President Biden, and many supported Trump in the election. Vance commended the crypto community’s mobilization efforts, especially praising the Winklevoss twins of Gemini fame. “You chose to speak up… you changed the direct trajectory of our country because of it,” he told attendees at the Venetian Hotel.
He emphasized the potential of cryptocurrency as a defense against unruly politicians and stringent regulations, asserting that the U.S. needs to lead in this space as China takes a hard line against it. This year, Trump managed to fulfill many campaign promises, including establishing a strategic bitcoin reserve and pardoning Ross Ulbricht, the Silk Road founder.
Vance also remarked on the Trump administration’s connections in the crypto world, highlighting the attendance of various officials and Trump family members at the ongoing conference. However, the family’s financial moves in crypto have drawn scrutiny. Notably, the Trumps hold a substantial stake in World Liberty Financial, which launched its own stablecoin. Recent Senate advancements toward federal stablecoin regulation have drawn Vance’s support, urging timely passage.
To cap it off, the Trump media company is reportedly raising significant funds to invest in bitcoin, with the former president and First Lady also promoting meme coins, attracting both jest and concern among critics.
Original Source: www.pbs.org
