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JD Vance Calls Crypto Market Structure Bill a ‘Priority’ for Trump Administration

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LAS VEGAS, Nevada — Establishing a clear and pro-innovation regulatory framework for the crypto industry via a market structure bill is a priority for U.S. President Donald Trump’s administration, Vice President J.D. Vance said Wednesday.

Speaking to a massive crowd at Bitcoin 2025 in Las Vegas, Vance said that a regulatory framework is necessary to fully incorporate cryptocurrency into the mainstream U.S. economy, as well as to prevent future governments from rolling back the Trump administration’s crypto-friendly policies.

“I hope that our party is in charge for a long time, but nothing is ever guaranteed in politics. So the best way to ensure that crypto is part of the mainstream economy is through a market structure bill that champions and doesn’t restrict the extraordinary value that bitcoin and other digital assets represent,” Vance said at the event, which organizers said drew about 35,000 attendees. “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens, but if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendlier jurisdiction, and President Trump is going to fight to fight to make sure that does not happen.”

Vance said the Trump administration is hopeful that the GENIUS Act, the Senate’s stablecoin bill, will hit the president’s desk soon, allowing Congress to turn its attention to a market structure bill.

He also said that the administration continues to work to “clean up the wreckage that the [Biden] administration left us,” including the so-called “regulation by enforcement” approach to crypto practiced by the U.S. Securities and Exchange Commission (SEC) under then-Chair Gary Gensler, and the widespread debanking of crypto companies, dubbed by the industry as Operation Chokepoint 2.0.

“Operation Chokepoint 2.0 is dead and it’s not coming back under the Trump administration,” Vance said. “We reject the Biden administration’s legacy of death by a thousand enforcement actions… We fired Gary Gensler, and we’re gonna fire everybody like him,» he added, though Gensler resigned the day Trump was sworn in

Vance thanked the crypto industry, including Gemini’s Tyler and Cameron Winklevoss and Coinbase, for their early support of Trump’s campaign, attributing some of its success — as well as the successful elections of other crypto-friendly politicians like Sen. Bernie Moreno (R-Ohio) — to the crypto industry’s political support.

“Take the momentum of your political involvement in 2024 and carry it forward into 2026 and beyond,” Vance said.

In addition to urging the industry to stay involved in U.S. politics, Vance asked bitcoiners to stay abreast of developments in artificial intelligence (AI).

“Remember that what happens in AI is very much going to affect, in good and bad ways, what happens to bitcoin and, of course, what happens to bitcoin is very much going to affect what happens in AI,” Vance said, adding: 

“Make sure you’re keeping tabs on and staying involved in what’s happening in artificial intelligence. I don’t want America to be negatively affected by what’s happening in AI, and the best way to ensure that smart people are at the AI conversation is to ensure that Bitcoin is part of the artificial intelligence conversation.”

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Trump’s Memecoin Dinner Questioned by Top Democrat on House Judiciary Committee

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A senior Democrat in the House of Representatives, Jamie Raskin, joined his name to lawmakers seeking answers about President Donald Trump’s recent dinner for top investors in his memecoin, sending questions directly to Trump.

Raskin, the ranking Democrat on the House Judiciary Committee, has been a vocal critic of the president and becomes the latest of many from his party to probe details about the event, which they’ve called out as evidence of White House corruption. Because Raskin is in the minority party, his demands are unlikely to lead to further congressional action unless they regain the House or Senate in next year’s elections.

«I write today to demand that you release the names of all the attendees at this dinner and provide information about the source of the money they each used to buy $TRUMP coins, so that we can prevent illegal foreign government emoluments from being pocketed without congressional consent,» Raskin wrote this week to the president, joining many counterparts in the Senate in seeking the information, including Senators Elizabeth Warren, Chris Murphy and Richard Blumenthal.

«We deserve to know who is paying for access to our president, and what steps you took to ensure that the funds you receive are legitimate and legal, rather than the proceeds from foreign states or monarchs or illegal activities,» Rasking said, specifically highlighting Tron founder Justin Sun, a guest who was a major early investor in Trump’s family crypto operations.

Read More: Democrats Threaten Lawsuits, Join Protests Ahead of Trump Memecoin Dinner

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FTX Repayments May Have Positive Market Impact: Coinbase

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The FTX Recovery Trust will begin distributing over $5 billion in cash and stablecoins to creditors starting on Friday, with funds expected to land in accounts within the next three business days via BitGo and Kraken.

And there’s a chance this wave of repayments will help lift the crypto market, analysts at Coinbase wrote in a report on Friday.

It’s the second major round of repayments following the exchange’s collapse. The first, which began on Feb. 18, returned roughly $7 billion to creditors with claims under $50,000. That did little to lift broader crypto markets at the time, which remained under pressure from macro headwinds.

This latest wave of distributions comes as investor sentiment has shifted, the analysts said. Payments will arrive in stablecoins, offering recipients immediate on-chain liquidity, instead of cash and crypto. That could influence whether the funds are reinvested.

There’s also a broader sense of optimism in crypto markets, thanks in part to a rally in major assets and increased political clarity around regulation. Institutional players, in particular, may feel more comfortable acting on incoming funds, especially as Congress moves closer to passing legislation that would define the roles of U.S. regulators overseeing digital assets.

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Judge Declines to Order DOJ to Review Records in Roman Storm Case

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The federal judge overseeing Roman Storm’s prosecution declined to order the Department of Justice to review its records for any materials it might have missed that would help the Tornado Cash developer at the end of a 30-minute hearing Friday morning, though she told the government it should not have any disclosure issues.

Judge Katherine Polk Failla also ruled that there were no Brady violation concerns with the Department of Justice’s conversations with the Financial Crimes Enforcement Network (FinCEN) about whether mixers needed to register as money transmitters — the conversation that prosecutors pursuing Samourai Wallet developers had with FinCEN officials, but not the prosecutors on Storm’s case — one of the DOJ representatives said in the phone conference on Friday.

If the judge had found that prosecutors had withheld information, it could affect the case moving forward.

«I’m not going to require a further review based on the representations made that there’s no additional material of this type, and based on my views that I don’t believe the material was exculpatory,» she said.

«There’s a difference between ‘this is something I’d like to know’ and ‘this is a Brady violation,'» the judge said, referring to a Supreme Court precedent that requires prosecutors to share any and all information that might help a defendant with the defendant’s team.

Storm’s defense attorneys argued during the hearing that they needed to know when the prosecutors in their case learned about the FinCEN conversation.

«They do plan to say they’re charging a conspiracy to operate an unlicensed money transmitter,» said defense attorney Brian Klein. «My question is who are they supposed to be licensed with? … this is all in the same issue. They’ve only dropped one subpart … but they’re still going to say they’re charging an unlicensed money business.»

Thane Rehn, a prosecutor who worked on the DOJ case against Sam Bankman-Fried, said that his team wouldn’t argue that Tornado Cash needed to secure a license.

«The word ‘license’ doesn’t apply here and the jury won’t be instructed on licensing issues … what we intend to prove at trial is the defendant knew they were transmitting funds derived from criminals,» he said.

The judge did at multiple points ask the prosecutors if they planned to change any other theories or charges in the weeks leading up to the trial, saying doing so might be unfair to the defense. The trial is supposed to kick off in less than two months.

Read more: DOJ Will Still Pursue Roman Storm Case Despite Blanche Memo, Prosecutors Say

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