Former President Donald Trump has made an interesting choice for his vice presidential candidate – crypto-friendly Senator J.D. Vance from Ohio. Vance, who used to be a venture capitalist before entering politics, has disclosed that he owns a significant amount of Bitcoin, between $100,001 and $250,000.
Trump’s recent support for cryptocurrencies has been evident in his campaign, with his team accepting crypto contributions through Coinbase. He has been vocal about his backing for the industry, which has helped widen his lead in post-debate surveys. Despite this, some groups believe that President Biden could still change his stance on crypto to gain more support.
In a recent Annual Report for 2022, Vance revealed that he holds his Bitcoin on Coinbase and has accounts with Robinhood and Charles Schwab. While he has not yet disclosed his finances for 2023, his efforts to create clear legislation in the crypto space have made him a popular choice among crypto leaders. Vance has even drafted a bill aimed at reforming how the U.S. regulates digital assets, which could be more favorable to the industry than the bill passed by the House.
Senator Vance has been active in crypto legislation, voting to repeal a controversial SEC staff accounting bulletin that restricted certain institutions from holding digital assets. He has also criticized SEC Chairman Gary Gensler’s approach to regulating crypto, accusing him of politicizing the securities business. In February, Vance and other GOP Senators expressed concerns over an enforcement case against a crypto firm, highlighting false statements made by SEC lawyers.
Former President Trump is set to speak at a major Bitcoin conference in Nashville, where he is expected to discuss his plans for supporting blockchain technology, advocating for the right to self-custody of digital assets, and opposing the creation of a central bank digital currency (CBDC).
Overall, the choice of Senator J.D. Vance as Vice Presidential candidate shows a strong commitment to the crypto industry from the Trump campaign. With Vance’s background in venture capitalism and his efforts to create favorable legislation for digital assets, it is clear that crypto will play a significant role in their campaign moving forward.