Trump chooses crypto-friendly Senator Vance as VP pick

Vance, an Ohio Republican, is largely seen as crypto-friendly

July 15, 2024 03:24 pm

Former President Donald Trump | Jonah Elkowitz/Shutterstock modified by Blockworks

Former President Donald Trump has officially picked US Senator JD Vance (R-OH) as his vice presidential candidate in the upcoming presidential election.

The announcement was made by Trump’s official Truth Social account during the Republican National Convention on Monday and comes just days after Trump survived an assassination attempt.

“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 JD Vance of the Great State of Ohio,” Trump wrote.

Trump, who in recent months has changed his stance on crypto, picked a running mate who’s also seen as crypto-friendly. Vance, an Ohio Republican, has floated a legislation draft focused on crypto, according to Politico last month.

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The legislation would seek to change how the Securities and Exchange Commission and the Commodities Futures Trading Commission approach crypto.

Vance was also one of the lawmakers to pen a letter to the SEC over its mishandling of the DEBT Box case. The SEC, as ordered by the court, had to pay $1.8 million in legal fees after a judge ruled that the regulator had made “misleading” statements.

Ahead of the announcement, crypto prediction market Polymarket had JD Vance leading as Trump’s top potential VP pick. US residents can’t place bets on Polymarket, though the platform is still viewable.

Crypto’s become a big topic in the presidential election so far this year — though not big enough to be mentioned at the presidential debate hosted at the end of last month. However, Trump has vocalized support for the industry and was the first campaign from a major party to integrate crypto donations.

The Republican party even included crypto in its formal platform earlier this month.

“Republicans will end Democrats’ unlawful and un-American crypto crackdown and oppose the creation of a Central Bank Digital Currency,” the platform said.

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