Vance at the Venetian
The Vice President of the United States, JD Vance, encouraged cryptocurrency investors to remain active in US politics in a speech at the Bitcoin 2025 Conference in Las Vegas.
Vance stated that the Trump administration was ready to pass pro-crypto legislation, but that pressure needed to be maintained on congress to ensure the bills could be passed.
a once-in-a-generation opportunity to unleash innovation”
In his keynote speech at the Venetian hotel, Vance stated: “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens, but if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendly jurisdiction.”
Stablecoins given support
The Trump administration positioned itself close to the crypto industry before winning the 2024 election. Trump addressed the previous Bitcoin 2024 Conference in Nashville during his presidential campaign, pledging to make the US the “crypto capital of the planet.”
Several high-profile figures within the crypto industry have also been major supporters of Trump, including the co-founders of the Gemini exchange, Cameron and Tyler Winkelvoss, who were singled out for praise by Vance.
“You chose to speak up and you chose to get involved and I believe you changed the direct trajectory of our country because of it,” said the VP.
Vance spoke of the potential of cryptocurrencies to help protect people from poor legislation, aggressive regulators, and elites. Contrasting the US’ position with China’s anti-crypto stance, Vance also said the government would push for new legislation to support stablecoins, seeing them as a positive for the economy.
We do not think that stablecoins threaten the integrity of the US dollar. Quite the opposite.”
“In this administration, we do not think that stablecoins threaten the integrity of the US dollar. Quite the opposite. We view them as a force multiplier of our economic might.”
Family gathering
Vance was not the only figure from the Trump administration present at the conference, with the President’s two sons Donald Jr and Eric also in attendance at the event.
Outside the crypto world, Trump and his family have come under criticism not only for their closeness to investors in the space, but also their efforts to personally profit from launching tokens. The president recently took part in a dinner which was open to the ten largest holders of his own coin, launched in January this year.
Trump family also holds around 60% stake in World Liberty Financial
More recently, Trump’s media company announced on Tuesday that $2.5bn would be raised to buy bitcoin, in a further show of support for the industry. The Trump family also holds around 60% stake in World Liberty Financial, which recently announced the launch of a new stablecoin backed by U.S. treasuries.
