US Vice President J.D. Vance spoke at the Bitcoin 2025 conference, outlining how he plans to turn the country into the “cryptocurrency capital of the world.”
Vice President Vance stated that the Trump administration will fire officials who hinder the crypto industry, describing the crypto market as a key sector for the U.S. economy.
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Gensler isn’t the first official to be dismissed, and he likely won’t be the last
According to Vance, the lack of clear regulation for the crypto market could lead to trillions of dollars flowing to more crypto-friendly jurisdictions. Vance emphasized that the U.S. needs to draft legislation to fully integrate cryptocurrencies into the national economy, rather than restricting the industry.
“If we don’t create transparent rules now, this $3 trillion industry will go overseas,” he said.
The vice president said there should be no officials remaining in government positions who oppose digital assets. He mentioned Gary Gensler, the former head of the U.S. Securities and Exchange Commission (SEC), who left the agency immediately after Trump’s inauguration in January.
“We’ve already fired Gary Gensler, and we’re going to fire anyone who shares his stance,” Vance said, hinting at upcoming personnel changes among financial regulators.
Trump has nominated Paul Atkins, known for his friendly approach to the crypto market, as the new head of the SEC. Atkins has already announced that the agency will overhaul its approach to regulating the crypto industry and will seek to make the U.S. the “cryptocurrency capital of the world.”
The Commission recently created a task force on cryptocurrencies, headed by Commissioner Hester Peirce. She is known in the crypto community as “Crypto Mom.” Peirce said that the SEC will first focus on revising the classification of crypto assets. The regulator’s Digital Asset Working Group has already held three roundtables on digital assets. During the most recent one, which took place on May 12, commissioners discussed moving assets to blockchain and tokenization. The next meeting is scheduled for June 6. The main topic will be the development of decentralized finance in the U.S.
Key Facts
The Bitcoin 2025 conference was held in Las Vegas, where crypto industry leaders and government officials met.
U.S. Vice President J.D. Vance said that the Trump administration will fire all officials hindering the development of the crypto market.
Former SEC head Gary Gensler has already left his post after the inauguration. Paul Atkins, known as a supporter of cryptocurrencies, has been appointed as the new head.
The SEC will create a working group on cryptocurrencies under the leadership of “Crypto Mom” Hester Peirce.
Vance emphasized that without transparent rules, the $3 trillion crypto industry could leave the United States. His goal is to make the country the “cryptocurrency capital of the world.”
