Sen. J.D. Vance, an Ohio Republican and author of “Hillbilly Elegy,” has been announced as former President Donald Trumpβs running mate for the 2024 election.
Vanceβs selection comes amid his push to reform digital asset regulation, which has garnered support from the crypto industry.
Vance and Crypto Legislation
Vance is a popular choice among crypto enthusiasts, given his efforts to advance legislation clarifying the rules of the road for digital assets. As a member of the Senate Banking Committee, he has been circulating a draft of a bill that would reshape how the U.S. regulates digital assets.
The proposed bill, which follows a more industry-friendly approach than recent bipartisan House legislation, seeks to simplify the roles of the Security and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing the crypto market.
While the House bill received significant bipartisan support, some industry insiders believe Vanceβs proposal offers a better framework for the crypto industry.
Vanceβs bill underscores the growing influence of crypto in Washington, particularly as he now positions himself as the running mate for former President Donald Trump.
Stay updated with more news on Global Crypto News.