US Vice President Vance Advocates for Cryptocurrency Legislation at Bitcoin Conference

Las Vegas, NV – May 28, 2025 – Addressing attendees at a prominent Bitcoin conference in Las Vegas, U.S. Vice President JD Vance emphasized the importance of the cryptocurrency industry in American politics and called for bipartisan support in Congress to establish regulatory frameworks for digital currencies. His remarks come amid growing interest and investment in cryptocurrencies, and a backdrop of previous administration policies affecting the industry.

In his keynote speech at the conference, Vance urged cryptocurrency executives and advocates to exert pressure on Congress to pass pro-crypto legislation. He framed this as a vital opportunity, stating, “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens.” Vance warned that without regulatory clarity, the burgeoning $3 trillion crypto industry could relocate to countries with more favorable policies.

The Vice President’s comments follow a promise made by former President Donald Trump during last year’s Bitcoin conference in Nashville, where he proclaimed his commitment to transforming the U.S. into the “crypto capital of the planet.” During the campaign season, the cryptocurrency industry significantly backed Trump and pro-crypto lawmakers, who argued that the previous Biden administration was stifling the sector.

Vance commended the cryptocurrency community’s ability to mobilize politically, particularly referencing the efforts of Cameron and Tyler Winklevoss, co-founders of the prominent crypto exchange Gemini. Vance lauded their organizational capacity in influencing U.S. policy, stating, “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.”

In his address, Vance articulated a vision for cryptocurrencies as a means for conservative populists to safeguard their interests against, as he termed it, “bad politicians, overly aggressive regulators, and unethical elites.” He underscored the necessity for the U.S. to lead in the cryptocurrency space, especially in light of perceived hostility toward digital currencies from the Chinese government.

Trump’s Cryptocurrency Initiatives

During his presidency, Trump took several notable steps in regard to cryptocurrency, including the establishment of a Bitcoin reserve for the U.S. federal government and extending a pardon to Ross Ulbricht, the founder of Silk Road, a notorious early platform for Bitcoin transactions. His administration has appointed multiple advocates for cryptocurrencies, which has led to suspensions of various enforcement actions against significant crypto entities.

As part of a broader agenda to promote digital currencies, Trump’s media organization recently announced an ambitious plan to raise $2.5 billion aimed at purchasing Bitcoin. Trump and First Lady Melania Trump have also entered the cryptocurrency space with their own meme coins. Additionally, Trump hosted an exclusive dinner for major investors in his newly launched coin, inviting over 200 of the largest stakeholders to his golf club in northern Virginia.

Concerns and Criticism

The intertwining of Trump’s political and financial interests in the cryptocurrency realm has sparked criticism from various quarters, including some Democrats and even within the crypto community. Concerns have been raised regarding potential conflicts of interest, particularly with reports indicating that the Trump family holds a significant 60 percent stake in a crypto venture named World Liberty Financial, which has recently introduced its own stablecoin.

As discussions surround the future of cryptocurrency regulation in the U.S. continue to evolve, Vance expressed optimism about the swift passage of anticipated legislation that would lay the groundwork for regulating stablecoins—a rapidly growing segment of the crypto market. This legislative push comes at a time when swift action appears necessary to harness the full potential of the cryptocurrency industry for the American economy.

With strong ties entreated between the Trump administration and the cryptocurrency sector, the outcomes of these legislative efforts could significantly impact the financial landscape in the United States for years to come.