U.S. Vice President JD Vance reiterated the deregulatory approach of the Trump administration towards the cryptocurrency industry in his address at the Bitcoin 2025 Conference held in Las Vegas on Wednesday.
Vance Critiques Gensler’s Regulatory Approach
In his speech, Vance emphasized the administration’s stance against the regulatory methods previously employed by former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, which he characterized as enforcement-driven.
Vice President JD Vance Delivers Remarks at Bitcoin 2025 Conference at Las Vegas, NV https://t.co/m2IIVUS1j4
— Vice President JD Vance (@VP) May 28, 2025
“We reject regulators,” Vance declared, asserting, “We fired Gary Gensler, and we’re going to fire everybody like him.”
The former Senator from Ohio stated that the Trump administration is focused on addressing the “wreckage” left by President Joe Biden’s tenure, which he claims imposed heavy restrictions on the blockchain space.
“We prioritize eliminating the rules, the red tape, and the lawfare that we saw aimed at our crypto by our predecessors,” Vance said. “We’re ending the weaponization of federal regulations against this community. To put it simply, Operation Chokepoint 2.0 is dead, and it is not coming back under the Trump administration.”
“With President Trump, crypto finally has a champion and an ally in the White House,” he continued.
Trump’s Cryptocurrency Connections Under Fire
Vance’s remarks come shortly after Trump hosted an exclusive dinner for the leading 220 investors in his namesake memecoin at Trump National Golf Club in Washington, D.C.
Critics of the event have raised concerns that it might have breached important presidential ethics guidelines, fearing the potential influence of foreign entities in the purchase of the cryptocurrency.
On May 14, three prominent Democratic lawmakers sent a letter to U.S. Treasury Secretary Scott Bessent, urging him to disclose suspicious activity reports (SARs) related to “politically oriented” ventures connected to Trump.
“Because the identities of the coin purchasers need not be publicly disclosed, there is no way to tell who is buying the coin, potentially allowing bad actors, including authoritarian governments and companies they control, to enrich the Trump family,” the lawmakers stated regarding $TRUMP.
The request for the SARs to be returned by May 30 has been made, yet the response from Bessent remains uncertain.
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