by Catherine Young at The Epoch Times via ZeroHedge
Vice President JD Vance said that China’s aversion to decentralized cryptocurrencies like Bitcoin was one more reason that the United States should embrace the technology.
“The People’s Republic of China doesn’t like Bitcoin. Well, we should be asking ourselves, why is that? Why is our biggest adversary such an opponent of Bitcoin, and if the communist Republic of China is leaning away from Bitcoin, then maybe the United States ought to be leaning into Bitcoin, and that’s one of the things we’re going to be doing,” he said.
Vance was speaking at the Bitcoin 2025 Conference in Las Vegas on May 28 about the administration’s plans to bring cryptocurrency into the mainstream economy, the same day the Department of Labor rescinded guidelines warning fiduciaries against including cryptocurrency in 401(k) retirement plans.
He said that Bitcoin would be a strategically important asset, and that the United States should build on its advantage over the Chinese regime, as around 50 million Americans, soon to be more, own Bitcoin.
The Chinese regime banned cryptocurrency trading and investments in 2019, and its central bank in 2021 announced a crackdown on all cryptocurrency activity.
Vance said cryptocurrency, among supporters, represents “a hedge” against inflation and political persecution, referring to instances of people being denied financial services for their political views.
“With President [Donald] Trump, crypto finally has a champion and an ally in the White House,” Vance said.
“In our administration, we understand the full potential of the digital assets industry—not just as an investment, not just as a flashy technology, but as a symbol and driver of personal liberty for all our citizens.”
He also urged the crypto community to stay engaged in the public policy debate,…
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