Donald Trump chooses J.D. Vance as VP candidate – Crypto community rejoices

• Donald Trump has selected pro-crypto Senator J.D. Vance as his running mate.
• Vance’s pro-crypto stance complemented Trump’s support for digital assets.

After surviving the assassination attempt on the 14th of July, former President Donald Trump made his first public appearance at the Republican National Convention in Milwaukee.

Trump chooses Vance as Vice President

At the event, Trump announced Ohio Senator J.D. Vance as his running mate for the upcoming U.S. presidential election. 

According to the source, J.D. Vance is recognized as a strong crypto supporter by Coinbase’s Stand With Crypto initiative, based on his pro-crypto social media and voting record.

Taking to Truth Social, Trump noted, 

“After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio…” 

This highlighted Trump’s continued support for cryptocurrencies, the first instance being his confirmation to attend the Bitcoin Conference 2024 despite the recent attack.

Highlighting his gratefulness, Vance said, 

Source: J.D. Vance/X 

Vance against Gensler?

Vance is well-known for his pro-crypto stance and his discontentment with SEC Chair Gary Gensler’s approach to cryptocurrencies.

During Remedy Fest, a private conference hosted by Y Combinator and Bloomberg on the 28th of February, Vance expressed his views and stated,  

“If there’s a candidate for the worst person in my view, at least in terms of my substantive disagreement is Gary Gensler.”  

Attacking Gensler’s approach towards crypto, Vance added, 

“The approach that Gary has taken to regulating blockchain and crypto is the exact opposite of what it should be.” 

Vance continued support for crypto

This isn’t the first time Vance has been vocal about crypto. On the 16th of May, he joined 60 senators to overturn the SEC’s SAB 121 guidelines, which restrict US banks from holding crypto assets.

Earlier, on the 7th of February, Vance led Republican senators in a letter to Gensler, criticizing an SEC action against crypto mining firm Debt Box.

Moreover, way back in a 2022 financial disclosure, Vance reported holding between $100,001 and $250,000 in Bitcoin. 

Trump likely to attract more crypto community votes

With time, it has become clear that the crypto community has started leaning in favor of Trump. As put forth by X (formerly Twitter) user Sam Lyman, 

“The Trump-Vance ticket = a profound sea change for the digital asset industry.”

Reiterating the same, @Eug_Ng added, 

“This is actually even more bullish now for crypto with a Trump-Vance presidential win.”