Trump picks pro-crypto JD Vance as running mate 

Senator J.D. Vance, Republican of Ohio and author of “Hillbilly Elegy,” has been announced as former President Donald Trump’s running mate for the 2024 election.

Vance’s election comes as a result of efforts to reform digital asset regulations that have gained support from the crypto industry.

Vance and crypto regulation

Vance is a popular choice among crypto enthusiasts given his efforts to advance legislation that would clarify the rules of the road for digital assets. The Senate Banking Committee member had been circulating a draft of a bill that would reshape how the U.S. regulates digital assets.

Taking a more industry-friendly approach than the recent bipartisan House bill, the proposed bill aims to simplify the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing the cryptocurrency market.

While the bill in the House of Representatives has received significant bipartisan support, some industry experts believe Vance’s proposal offers a better framework for the crypto industry.

Vance’s bill highlights the growing influence of cryptocurrencies in Washington, especially as former President Donald Trump positions himself as vice president.