US Vice President JD Vance Champions Crypto Legislation at Bitcoin Conference

Las Vegas, NV – US Vice President JD Vance made a strong case for cryptocurrency market structure legislation at the Bitcoin Conference in Las Vegas. He emphasized the importance of Bitcoin and cryptocurrencies as a hedge against unfavorable US policies.

Vance Addresses Bitcoin Conference

The Bitcoin Conference in Las Vegas featured Vice President Vance, who discussed key issues that could boost the cryptocurrency industry in the United States. Vance stated that a comprehensive regulatory framework, such as a cryptocurrency market structure bill, is the most effective way to secure cryptocurrency’s place in the mainstream US economy.

He argued that clear rules would not only legitimize the industry but also protect it from potential policy reversals by future administrations. Without such protections, the US risks losing the $3 trillion market to other countries, Vance warned.

Vance also highlighted cryptocurrencies as a refuge against rising inflation, private sector discrimination, and poor policy decisions at the federal level.

“Cryptocurrencies are a hedge against bad policymaking in Washington, regardless of which party is in control,” he stated.

He shared that the Trump administration recognizes the impact cryptocurrencies have had on the financial freedom of American citizens, emphasizing that the President is a “crypto ally” in the White House. Vance revealed that a key reason for creating the Bitcoin reserve was to “kickstart the strategic importance of Bitcoin for the United States.”

This follows the Trump administration’s effort to “make America the crypto capital of the world.” Trump established a Cryptocurrency Task Force in January and signed an executive order for a strategic Bitcoin reserve in the United States. The President also hosted a Cryptocurrency Summit at the White House for the first time and has spoken at various cryptocurrency-related conferences. Several anti-cryptocurrency regulations have also been reversed since Trump’s inauguration in January.

Vance further stated that the government plans to end federal laws and remove regulators targeting the cryptocurrency industry, citing the departure of former SEC Chairman Gary Gensler.

“We fired Gary Gensler, and we are going to fire everyone who is like him,” Vance affirmed.

Addressing stablecoins, Vance said the government does not view them as a threat to the integrity of the US dollar but rather as a “force multiplier of our economic power.” He mentioned the GENIUS bill and how the Senate is working diligently to ensure it reaches the President’s desk.

Vance isn’t the only government official at the Bitcoin Conference. On Tuesday, Senator Cynthia Lummis shared with attendees the impact a Bitcoin reserve would have on the economy and also emphasized the need for a cryptocurrency market structure bill.

Key Takeaways from Vance’s Speech:

• Emphasis on Crypto Legislation: Vance stressed the need for a cryptocurrency market structure bill.
• Crypto as a Safe Haven: He declared that cryptocurrencies serve as a refuge against poor US policies.
• Regulatory Changes: Vance added that the administration will remove anti-crypto regulators.

Bitcoin (BTC) is trading around $107,000 following Vance’s session at the conference.

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