Regulation
Trump Picks Bitcoin-Holding, Cryptocurrency-Friendly Sen. JD Vance as Running Mate
Photo by Tom E. Puskar, Associated Press (2022).
Key points
- JD Vance is recognized as a strong cryptocurrency advocate by Coinbase’s Stand With Crypto initiative.
- Vance has financial investments in Bitcoin and has opposed the SEC’s cryptocurrency reporting rules.
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Donald Trump has announced Ohio Senator J.D. Vance as his vice presidential running mate on the 2024 Republican ticket. Vance, known for his pro-crypto stance, adds a tech dimension to Trump’s campaign.
Trump announced his pick on the social media platform Truth Social, confirming that Vance would join his presidential bid. The Ohio senator has established himself as a “strong” supporter of cryptocurrency, according to Coinbase’s Stand With Crypto initiative, which bases its rating on positive social media posts and a pro-crypto voting record.
“JD has had a highly successful business career in technology and finance, and now, during the campaign, he will focus intensely on the people he fought so brilliantly for, America’s workers and farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota and far beyond,” Trump said in the statement.
Vance’s experience in finance and technology, which complements his crypto credentials, is corroborated by his financial disclosures. In a 2022 report filed with the U.S. Senate, he disclosed holdings of Bitcoin valued between $100,001 and $250,000 through Coinbase. These personal investments also align with his legislative actions, which include voting in favor of a joint resolution to Repeal SEC Rule Requiring Banks to Report Cryptocurrencies as liabilities on their balance sheets.
Vance’s selection could signal a crypto-friendly approach in a potential Trump administration. It comes at a time when crypto regulation and adoption are increasingly important issues in U.S. politics and financial policy. Vance’s addition to the ticket could appeal to tech-savvy voters and those in the crypto community seeking representation in high-level government positions.
Trump, who recently survived a shooting at a rally in Pennsylvania, has gradually moved the Republican Party to align itself with cryptocurrency-friendly legislation. Trump also confirmed that he will attend a Bitcoin conference in Nashville, despite looming security concerns as his campaign continues.
Trump’s choice of a pro-cryptocurrency running mate represents a notable shift in the dynamics of the Republican Party, potentially influencing future political debates over digital assets and blockchain technology.
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