Donald Trump Picks Pro-Crypto Sen J.D Vance as VP Candidate
Highlights
- Donald Trump selects Sen J.D Vance as his VP candidate.
- The pro-crypto Senator has voted positively on industry bills.
- Crypto enthusiasts anticipate possible crypto regulations should they emerge.
Republican Presidential candidate Donald Trump has picked Ohio Senator, J.D Vance as the Vice Presidential nominee ahead of the United States polls. In recent weeks, speculation followed the potential Vice Presidential picks as the campaign intensifies. Crypto enthusiasts have reacted positively to the news due to Sen Vance’s crypto stance.
Donald Trump Chooses Pro-Crypto VP
Donald Trump’s campaign has announced Sen Vance as the running mate of the former President ahead of the polls. The Ohio Senator was speculated as a potential candidate for the position in previous weeks. This announcement makes the Republican Presidential ticket more pro-crypto following Donald Trump’s recent impact on the market.
Sen Vance voted to repeal the controversial SAB 121 regulation which makes it difficult for financial firms to provide custody to crypto. The Republican VP nominee has also criticized the Securities and Exchange Commission (SEC) on the handling of certain matters. Notably, in 2022, he disclosed Bitcoin holds up to $250,000, and last year, he introduced a bill for bank regulation to make sure crypto firms are not discriminated against.
Initial reactions to the selection by Donald Trump on social media spaces have been bullish with crypto enthusiasts anticipating wider market reforms. Last week, traders on PolyMarket raised the chances of Sen Vance becoming Trump’s VP to 29%, up 17% from the previous week. Public watchers have hinted at possible crypto reforms should the duo emerge at the polls. At press time, Bitcoin trades at $63,519, a 5% increase in the last 24 hours.
US Crypto Regulation?
In the past couple of years, digital asset enthusiasts have yearned for clear crypto rules in the United States. This comes after the SEC and other regulators continued a bottleneck approach that has led to several lawsuits. Users begin to speculate clear rules should Donald Trump emerge because of his latest comments on the market coupled with the history of Sen Vance backing pro-crypto legislation.
Last month, a report emerged that Sen Vance has started circulating a bill towards digital asset regulation that will overhaul how the SEC and CFTC oversee the market.
The aftermath of the announcement has seen reactions from crypto executives. Ripple’s CEO Brad Garlinghouse reacting to a video of Sen Vance on Gary Gensler and blockchain called on elected representatives to take up the role rather than unelected officials.
Also Read: Powell Teases Fed Rate Cuts Before 2% Inflation Mark, Bitcoin Rally Ahead?
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
