JD Vance praised executives and enthusiasts of cryptocurrencies and warned that if the laws that are promoting the White House are not approved there is a risk of companies and investors migrating to other countries.
The United States Vice President JD Vance called the cryptocurrency industry to maintain pressure on Congress to approve the laws that favor the sector, supported by the White House. The official warned that, in case of not creating an adequate regulatory framework, there is a risk that companies and enthusiasts move to other countries.
Vance praised Wednesday to executives and cryptocurrency enthusiasts at a Bitcoin conference in Las Vegas. “We have a unique opportunity in a generation to unleash innovation and use it to improve the lives of innumerable US citizens,” he said, although he warned that “If we fail to create regulatory clarity now, we run the risk that this U $ 3 billion industry moves abroad in search of a friendly jurisdiction”
Trump’s second praised the speed with which the industry could organize and influence the policy of the United States during last year’s elections, giving a special loan to Cameron and Tyler Winklevos, the multimillionaires founding the Gemini cryptocurrency market. “You chose to raise your voice and decided to get involved, and I think you changed the direct trajectory of our country because of it,” assured.
The vice president stressed that it is strategically important for the United States to be a world leader in the industry, noting that the Chinese government is hostile to cryptocurrencies.
The defense history of the Trump administration cryptocurrencies
In addition, Vance remarked Trump’s administration history in compliance with campaign promises made last year. It is worth remembering that the Republican established a Bitcoins Strategic Reserve for the Federal Government And he pardoned Ross Ulbricht, the founder of Silk Road, a black market website that was key to the early growth of Bitcoin.
The president has also filled his administration with declared defenders of the cryptocurrencies while having undone or leisurely several actions to comply with the law that were undertaken against large virtual currency companies.
The Trump family has a Participation of approximately 60% in World Liberty Financiala cryptocurrency project that recently launched its own stablecoin, a rapid cryptocurrency form whose value is usually linked to the US dollar. The United States Senate presented legislation earlier this month to create a Federal Regulatory Framework for Stablecoins, a bill whose rapid approval is an important objective for the Government.
The Trump media company announced Tuesday that it would raise US $ 2,500 million to buy bitcoins, the oldest and most popular cryptocurrency in the world. The president and the first lady have also launched their own Meme currencies, and Trump recently attended a dinner for some of the largest investors of their coins.
Source: Ambito
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