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U.S. Vice President JD Vance doubled down on the Trump administration’s deregulatory stance toward the crypto sector in remarks at the Bitcoin 2025 Conference in Las Vegas on Wednesday.
During his speech, Vance reaffirmed the administration’s opposition to former United States Securities and Exchange Commission (SEC) Chair Gary Gensler’s regulation-by-enforcement approach to cryptocurrencies.
“We reject regulators,” Vance said. “We fired Gary Gensler, and we’re going to fire everybody like him.”
The former Senator from Ohio further claimed that the Trump administration is committed to cleaning up the “wreckage” from former U.S. President Joe Biden’s administration, which saw extensive guardrails placed on the blockchain sector.
“We prioritize eliminating the rules, the red tape, and the lawfare that we saw aimed at our crypto by our predecessors,” Vance said. “We’re ending the weaponization of federal regulations against this community. To put it simply, Operation Chokepoint 2.0 is dead, and it is not coming back under the Trump administration.”
“With President Trump, crypto finally has a champion and an ally in the White House,” he added.
Trump’s Crypto Ties Face Scrutiny
Vance’s comments come just days after Trump hosted an exclusive dinner for the top 220 investors of his namesake memecoin at Trump National Golf Club in Washington, D.C.
Critics of the event argue that the gala may have violated key presidential ethics provisions, citing concerns over potential foreign influences’ ability to purchase the cryptocurrency.
In a May 14 letter, three key Democratic members of the House of Representatives urged U.S. Treasury Secretary Scott Bessent to unseal suspicious activity reports (SARs) into “politically oriented” Trump-affiliated ventures.
“Because the identities of the coin purchasers need not be publicly disclosed, there is no way to tell who is buying the coin, potentially allowing bad actors, including authoritarian governments and companies they control, to enrich the Trump family,” the House members said of $TRUMP.
The U.S. lawmakers have asked the requested SARs to be returned by May 30, though it remains unclear how Bessent will proceed.
