Vance, Vice President of Trump, says there is now a powerful supporter of cryptocurrencies in the White House.
J.D. Vance, the Vice President of the United States, stated at the Bitcoin conference in Las Vegas that cryptocurrencies, especially Bitcoin, now have a strong supporter in the White House. The Trump administration aims to integrate them into the mainstream American economy by reducing regulations and supporting digital assets.
Vance, who held between $250,000 and $500,000 worth of Bitcoin according to 2024 financial documents, emphasized that they want people to know that cryptocurrency and digital assets are a serious and lasting part of our economy.
He added that cryptocurrencies, through decentralized financial technology, have transformed how people transact and serve as protection against poor policymaking, high inflation, and discrimination in the private sector.
Vance called for the passage of the GENIUS Act, which defines a regulatory framework for stablecoins.
He said, ‘In this administration, we do not believe stablecoins are a threat to the U.S. dollar; rather, we see them as strengthening our economic power.’