Vice President J.D. Vance announced the end of "Operation Chokepoint 2.0" and promised unwavering support for digital assets during his speech at the Bitcoin 2025 conference in Las Vegas.
Crypto "is a movement," Vance tells packed Bitcoin 2025 audience
Speaking to an energized audience, J.D. Vance discussed the Trump administration's crypto agenda, emphasizing deregulation, innovation and policy alignment with the Bitcoin community. "This is not a gathering of people-it's a movement," Vance said. "And I'm proud to stand with you today."
The vice president credited early crypto advocates-including David Bailey and the Winklevoss twins-for catalyzing public support for the Trump campaign in Silicon Valley. "Cameron and Tyler Winklevoss helped break the dam in Silicon Valley," he said, pointing to their early support as a signal that helped turn the political tide.
Vance touted three key policy goals for digital assets: eliminating hostile regulations, promoting stablecoin legislation through the GENESIS Act, and creating a clear market framework for all crypto assets and stablecoins. "Stablecoins don't threaten the dollar-they reinforce it," he said, adding that the proposed GENESIS Act will bring stablecoin activity back home while reinforcing the strength of the dollar.
"Under the guise of 'consumer protection,' [former SEC Chairman] Gary Gensler attacked any attempt to democratize finance," Vance said. "That ends now." He acknowledged Gensler's dismissal, framing the move as part of a broader strategy to protect innovation from what he called "bureaucratic warfare."
Vance emphasized the role of crypto in protecting civil liberties, calling digital assets a hedge against financial censorship and undue elite influence. He cited the Canadian trucker protest of 2022 and "debanking" incidents in the US as evidence. "At its core, crypto is a hedge-against bad policy, against inflation and against discrimination," he said.
The vice president concluded with a call for political participation from the crypto community, calling the industry "a national asset" and praising initiatives like the Bitcoin Reserve and the Bitcoin Policy Institute. "If you don't get involved in politics, politics will ignore you," he warned. "Let's not wake up in 10 years in a poorer, weaker country because we made bad decisions today."
