At a Bitcoin event in Las Vegas, Vice President **JD Vance** promised strong support for cryptocurrencies, earning cheers from the audience.
Vance confidently stated, “There’s a new sheriff in town,” emphasizing a shift in attitude towards crypto under the Trump administration. He criticized former SEC Chair Gary Gensler, a common target within the crypto community.
Regarding Gensler’s regulatory actions, Vance declared, “We fired Gary Gensler and we’re going to fire everyone like him,” denouncing what he called a disaster under the Biden administration that stifled innovation.
Vance highlighted the administration’s focus on removing barriers and legal obstacles that hinder crypto development, aiming to end what he referred to as the weaponization of federal regulations against the crypto community.
With approximately 50 million Americans currently holding cryptocurrencies, Vance predicted this number could double. He warned that without clear regulatory guidelines, the $3 trillion crypto industry might relocate overseas.
This stance aligns with Trump’s campaign promise to replace Gensler, fulfilled by appointing Paul Atkins, known for his supportive stance on cryptocurrencies, as Gensler’s successor.
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