Trump Administration Plans to Dismiss Pro-Cryptocurrency Regulators, Including Gary Gensler
US Vice President JD Vance expressed a pro-cryptocurrency stance during his speech at the Bitcoin 2025 Conference in Las Vegas, pledging to replace those regulatory officials seen as hindering the industry's growth, such as former SEC Chair Gary Gensler. Vance began with a light-hearted joke about Bitcoin enthusiasts and guns, setting a casual tone.
He thanked David Bailey and the Bitcoin community for supporting him and President Trump during their White House campaigns. Vance celebrated Bitcoin's recent growth and praised the event's organizers, including Coinbase.
The Vice President highlighted his optimism about the crypto space, describing cryptocurrency as a "ground-breaking innovation" that benefits millions of Americans. He estimated that 50 million Americans currently own Bitcoin, and he anticipates this number to double soon. Vance emphasized that crypto provides a protection against poor government policies, regardless of the political party.
During his speech, Vance underscored the shift in government policy during a potential second term for President Trump. "Crypto now has a champion and an ally in the White House," he said, referring to the Trump administration. Vance announced that "Operation Choke Point 2.0" would not be revived under his administration, a phrase referencing past government actions that many in the crypto sector deemed as unfair crackdowns.
Vance criticized the old regulatory frameworks, claiming that under the guise of consumer protection, they hampered efforts to democratize financial markets. He vowed to replace such officials who act like former SEC Chair Gary Gensler.
Vance spoke about the GENIUS Act, a law passed by the House to regulate stablecoins. He argued that this law would enable stablecoins to become a payment system for millions of users while increasing market transparency. He dismissed the concerns that stablecoins pose a threat to the U.S. dollar.
Vance encouraged the crypto community to stay politically engaged. He recounted his own Bitcoin ownership since his 2022 Senate run and commended the role the community played in recent political victories. He also disclosed that he owns a significant amount of BTC.
The Enrichment Data indicates that Vance supports a regulatory environment that promotes industry growth within the U.S., rather than pushing it offshore. He advocates for legislation like the GENIUS Act to establish a clear and secure legal environment for digital assets, positioning the U.S. as a global leader in the sector. Vance's stance leans towards lighter-touch, growth-oriented regulation over stricter approaches, but he has not publicly singled out specific regulators for criticism by name.
- JD Vance, the US Vice President, voiced his support for cryptocurrency during the Bitcoin 2025 Conference, criticizing regulators like former SEC Chair Gary Gensler who he believes hinder the industry's growth.
- Vance praised the crypto space, estimating that 50 million Americans currently own Bitcoin, a number he anticipates will double soon, and he described cryptocurrency as a "ground-breaking innovation" that benefits millions.
- During his speech, Vance spoke about the GENIUS Act, a law passed by the House to regulate stablecoins, arguing that it would make stablecoins a payment system for millions of users, increase market transparency, and not pose a threat to the U.S. dollar.
- Vance urged the crypto community to stay politically engaged, disclosing his own Bitcoin ownership since his 2022 Senate run and crediting the community for their role in recent political victories. He also expressed his desire for a regulatory environment in the US that promotes industry growth, advocating for legislation like the GENIUS Act.
