James David Vance, now running as Donald Trump's Vice Presidential candidate, has a history of opposing US Securities and Exchange Commission (SEC) Chair Gary Gensler's approach to crypto regulation.
A recently resurfaced video on social media shows Vance criticizing Gensler during a speech at RemedyFest, a private conference co-hosted by Y Combinator and Bloomberg on February 27.
In the video, Vance labels Gensler as the "worst person" to regulate crypto, arguing that his approach overly politicizes securities regulation in the US, which he describes as "the exact opposite of what it should be."
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Vance has consistently supported the crypto industry throughout his political career. In February 2022, he praised crypto as a tool against government overreach following Canada's finance minister's decision to freeze the bank accounts of truckers protesting COVID-19 lockdowns. He commented:
This is why crypto is taking off. The regime will cut off your access to banking if you have the wrong politics.
Additionally, on May 16 this year, Vance joined 60 senators in voting to overturn the SEC's controversial SAB 121 accounting guidelines, which have been criticized for preventing US banks from holding their customers' digital assets.
His financial disclosure report for the US Senate in 2022 revealed that he holds between $100,001 and $250,000 in Bitcoin.
Vance's unwavering support for the crypto industry and his strong opposition to Gensler's regulatory tactics highlight his dedication to fostering a more favorable environment for digital assets.
In other news, former President Donald Trump will speak at the Bitcoin Conference in Nashville despite surviving an assassination attempt on July 13.
