JAKARTA - Former President of the United States, Donald Trump, officially announced that he chose Senator JD Vance of Ohio as a vice presidential candidate in the upcoming election campaign. Vance is known as a loyal supporter of crypto and has Bitcoin assets that are reportedly worth up to 250,000 US Dollars (approximately IDR 4 billion) in 2022.
Trump, who was previously skeptical of crypto assets, is now showing a change in attitude. In May, Trump's campaign team began to accept contributions in various forms of crypto assets through Coinbase. On various occasions, Trump promised to support the industry during his campaign.
Meanwhile, Vance has long been known as a pro-crypto legislator. In his annual financial report for 2022 filed in October 2023, Vance revealed that he kept his Bitcoin in Coinbase and has accounts in brokers Robinhood and Charles Schwab.
Senator J.D. Vance, who became the first millennial ticket to the president from a major party, brought about a generation change in this election, including his firm stance on crypto. Vance has proposed a law aimed at clarifying digital asset regulations in the United States, which sources say is even more crypto-friendly than the law passed by the House of Representatives in June.
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In addition, Vance also played a role in efforts to revoke the controversial SEC staff accounting bullet, SATB 121, which limits banks and brokers from holding digital assets. Although this revocation was approved by a modest majority in both chambers of Congress in May, President Biden's veto thwarted it.
According to Crypto Potato information, in February, Vance along with several Republican Senators wrote a letter to SEC Chair Gary Gensler, criticizing the SEC's approach to crypto regulation. They highlighted cases of law enforcement against crypto company Debt Box, where the judge found that SEC lawyers used false statements to freeze the company's assets.
By choosing Vance as his partner, Trump sends a strong signal of his support for the future of blockchain technology and crypto assets. Trump is scheduled to be the mainnote speaker at next week's largest Bitcoin conference in Nashville. There, he is expected to outline his plans to support blockchain technology, the right to digital asset self-associated custodies, and prevent the establishment of a central bank digital currency (CBDC).
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