Republican Party’s presumptive presidential nominee Donald Trump announced on July 15 via Truth Social that Senator JD Vance, a notable supporter of crypto, would join his ticket as a vice-presidential candidate for the 2024 election. This decision could mark a profound change in the US government’s approach towards cryptocurrencies, potentially ushering in a more favorable regulatory environment for digital assets.
JD Vance Has a 'Dream Ticket' for Crypto
Senator Vance, who represents Ohio, has demonstrated his commitment to the crypto sector through both personal investments and legislative actions. His 2022 financial disclosure report reveals investments worth between $100,001 and $250,000 in Bitcoin, held through Coinbase. On the legislative front, Vance voted in favor of several pro-crypto bills.
Accordingly, the response from the industry has been overwhelmingly positive. Industry figures have expressed optimism about the potential impact of Vance’s nomination on US crypto policy.
Fox Business journalist Eleanor Terrett highlighted Vance’s record, saying, “The Republican ticket in the 2024 presidential election is pro-crypto. Trump’s running mate. J.D. Vance has a strong pro-crypto record: Voted to repeal SAB 121, slammed the SEC for the debt box incident, In 2023, he introduced a bill to improve bank regulation and ensure that customers like crypto firms and gun manufacturers are not discriminated against, In 2022, Vance disclosed BTC holdings of up to $250K.”
Bitcoin OG Jameson Lopp confirmed Vance’s personal involvement: “According to his most recent financial disclosure last year, Trump’s vice presidential candidate J.D. Vance is a bitcoiner.”
Gabor Gurbacs, founder of Pointsville and strategist at Tether, Express His anticipation of Vance’s potential impact, commenting, “J.D. Vance is 39 years old and a Bitcoin supporter. That’s all you need to know. Change is coming.”
Tushar Jain, managing partner at Multicoin Capital, simply said, “One of us!” and reposted a February 2022 post by JD Vance, in which he said: “This is why crypto is moving so fast. If you have the wrong policy the regime will cut off your access to banking.”
Senator Vance’s approach to bitcoin and digital assets, as reflected in his voting record and public statements, shows that he views digital assets not only as financial instruments, but also as tools to enhance individual sovereignty and reduce government overreach. Sam Lyman from Riot Platforms Inc. echoed Echoing this sentiment, he added, “Trump-Vance ticket = a profound sea change for the digital asset industry.”
He added, “DJT wants all remaining Bitcoin to be “made in the USA” as part of a national strategy to achieve energy dominance.” Meanwhile, Vance felt Fiat 21 wasn’t crypto-friendly enough — so he crafted his own proposal to undermine the SEC. TLDR: This is the dream ticket for everyone who believes in self-sovereignty and freedom to transact.”
Travis Kling of Ikigai Asset Management told Underestimated market implications of Vance's stance: “Huge change. Not even close to priced in here.”
Furthermore, Vance’s criticism of current SEC Chair Gary Gensler’s handling of crypto regulation, discussed by Bloomberg ETF analyst James Seyffart and Consensys attorney Bill Hughes, underscores a fundamental disagreement with current regulatory approaches.
Seyfart commented Via Axe, “JD Vance is not a fan of Gary Gensler or his approach to crypto regulation”. Hughes shed light on Vance’s approach, stating, “Ohio Senator JD Vance on Gensler: He is too political in securities regulation. He backs down while wanting to ban utility tokens and doesn’t care about tokens with no particular utility.”
At press time, Bitcoin was trading at $64,399.
Featured image X by @SamLyman33, chart by TradingView.com
