Praise follows the problems of conflict of interest after Trump launched his own piece and organizes a dinner for his investors.
The United States Vice-President JD Vance urged the national cryptocurrency industry to remain involved in American policy, highlighting the close ties of the administration of President Donald Trump to a deep pocket industry.
Speaking at a Bitcoin conference in Las Vegas, Nevada on Wednesday, Vance urged managers and cryptocurrency enthusiasts to maintain pressure on the US Congress to adopt pro-Crypto legislation supported by the White House
“We have a unique opportunity to generate an innovation and use it to improve the lives of countless American citizens,” said Vance in his speech. “But if we are not creating regulatory clarity now, we risk chasing this industry with 3 dollars abroad abroad in search of a friendly jurisdiction.”
Vance delivered the speech after Trump promised to give the “planet cryptographic capital” to the United States when he approached the same Bitcoin conference in Nashville, Tennessee, last year in the middle of the presidential campaign. The cryptography industry, which felt unjustly attacked by the administration of former president Joe Biden, spent heavily to help Trump and pro-Crypto-Monnaies legislators win the elections.
Vance praised the speed with which the cryptographic industry was able to organize and influence the American policy in last year’s elections, granting a special credit to Cameron and Tyler Winklevoss, the billionaires of the Crypto Exchange Gemini.
“You have chosen to speak, and you have chosen to get involved, and I believe that you have changed the direct trajectory of our country because of this,” Vance at the crowd gathered at the Venetian hotel.
Vance praised cryptocurrencies as a hedge that can help conservative populists protect themselves against what he called bad politicians, too aggressive regulators and elites contrary to ethics. He predicted the continuous assimilation of digital currencies in the dominant financial current and said that it was strategically important for the United States to be an industry leader, noting that the Chinese government is hostile to crypto.
As president, Trump has created a bitcoin reserve for the federal government and forgiven Ross Ulbricht, the founder of Silk Road, a black market website which was the key to early Bitcoin growth.
Trump also put Crypto donors in his administration, who has canceled or interrupted several application measures taken against large cryptocurrency companies
Several other Trump officials are speakers of the Bitcoin conference, just like his sons Don Jr and Eric.
Conflict of interest
The president and the use by his family cryptocurrencies as a platform to earn money have aroused criticism of democrats and even crypto lovers as corrupt and improper.
The Trump family holds around 60% in a crypto project called World Liberty Financial, which recently launched its own stablecoin, a form of rapid growth cryptocurrency whose value is often linked to the US dollar. This month, the US Senate has advanced legislation that would create a federal framework to regulate Stablecoins, a bill which, according to Vance, said that the Trump administration wanted to quickly adopted.
Trump’s media company announced Tuesday that it collected $ 2.5 billion to buy Bitcoin, the oldest and most popular cryptocurrency in the world.
President and First Lady Melania Trump also launched their own memes pieces. Last week, Donald Trump rewarded investors in his medal. About 220 of the biggest $ Trump investors were invited to the Trump luxury golf club in northern Virginia.
