Donald Trump’s vice presidential candidate, JD Vance, has made headlines as the first bitcoin holder to run for Vice President. 

“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,” Donald Trump stated in Truth Social.

Vance's history and actions in the Senate illustrate his strong support for the crypto sector, making him a notable figure in the upcoming presidential race.

JD Vance has been a vocal advocate for Bitcoin and other digital currencies. Since his election to the Senate in 2022, Vance has introduced and supported pro-crypto legislation. 

Legislative Efforts

One of Vance's significant actions was voting to repeal the SEC's controversial Staff Accounting Bulletin 121. This bulletin restricted banks and broker-dealers from holding digital assets.  The repeal passed both chambers of Congress in May but was vetoed by President Biden. 

Further, in February, Vance co-authored a letter to SEC Chairman Gensler, expressing concerns over an enforcement case against the crypto firm Debt Box. A judge found that SEC lawyers used false statements to justify freezing assets and bank accounts associated with the company. Vance criticized this behavior, highlighting the need for ethical conduct within federal agencies.

Financial Disclosures and Market Influence

In 2022, Vance disclosed holding between $100,000 and $250,000 worth of Bitcoin. This amount would be worth between $136,000 and $390,000 today. His latest Senate financial disclosure does not list any buying or selling of cryptocurrencies, suggesting he still holds his Bitcoin. 

Crypto advocates quickly celebrated Vance’s nomination, marking the first "bitcoiner" on a presidential ticket. 

Protecting Crypto Firms

In 2023, Vance introduced a bill to protect crypto firms and exchanges from being cut off by traditional banks. Additionally, draft legislation for another industry-friendly bill is circulating, showing Vance's stance on supporting the sector.

Opposition to Anti-Crypto Measures

Vance has consistently opposed measures that he views as harmful to the crypto industry. In 2021, he spoke out against an amendment to the Infrastructure Bill, claiming it would effectively ban Bitcoin and other popular cryptocurrencies. 

JD Vance's inclusion as Trump's VP pick signals a pro-tech, pro-Silicon Valley, and pro-American dynamism outlook. This perspective aligns with the goals of many in the crypto industry who seek a supportive regulatory environment and innovative policies.