JD Vance: Crypto Hedge Against Bad Economic Policy
H
Vice president vows to break down institutional barriers to digital currency. BY ERIC MACK
ailing the trump adminis- tration’s vow to become the cryptocurrency capital of the world, Vice President JD
Vance urged bitcoin backers to use their innovative spirit and voice to advance American exceptionalism and freedom. “There’s an incredibly value-conser-
vative element to crypto technology, and that’s as a hedge: Crypto is a hedge against bad policymaking from Wash- ington,” Vance told the Bitcoin 2025 conference at the Venetian in Las Vegas. “No matter what party is in control,
it’s a hedge against skyrocketing infla- tion, which has eroded the real savings rate of Americans over the last four years. “And, as you all know well, it’s a
hedge against a private sector that’s increasingly willing to discriminate against consumers on the basis of their basic beliefs, including their politics.” Vance noted that the Biden admin-
istration, much like China, sought to put its finger on the scale against cryp-
tocurrency, giving the Trump adminis- tration and America an opportunity to “lean into” the industry like no admin- istration before. “But maybe most importantly, I see
crypto as a hedge against one of the most dangerous trends in the digital era and both the public and private sec- tors,” Vance said, “and that’s of elites who, rather than innovate themselves, prefer to simply take over and co-opt cutting-edge technologies to assert their control over other people.” Vance’s speech highlighted three administration priorities from Presi- dent Donald Trump’s campaign vow to make bitcoin great in America: Break down regulatory barriers. Institutionalize cryptocurrency. Provide regulatory clarity. “As you know, there’s a new sheriff
in town, because after four years of mistreatment and outright hostility led by Democrat regulators, lawmakers in this country have a choice,” Vance said. “In our administration, we under-
stand the full potential of the digital assets industry, not just as an invest- ment, not just as a flashy technology, but as a symbol and driver of personal liberty for all our citizens.”
U.S. Relaxes Rules on Retirement Plans T
he U.S. is unwinding a Biden administration policy
discouraging cryptocurrency investments in retirement plans. “We’re rolling back this
overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats,” Secretary of Labor Lori Chavez-DeRemer wrote in a statement in May. Former President Joe Biden’s
policy directed retirement plans to exercise “extreme care” before adding cryptocurrency to investment menus. President Donald Trump’s
Labor Department argues the language marked a departure from the agency’s historically neutral, principles-based approach to fiduciary investment decisions. “By rescinding the 2022 guidance, the department
Trump Family Invests $3 Billion
BY CHARLIE MCCARTHY T
he Trump family media company is raising $3 billion to buy
cryptocurrencies, the Financial Times reported. Trump Media and Technology
Group (TMTG), which owns the Truth Social platform, aims to raise $2 billion in new equity and another $1 billion via a convertible bond. President Donald Trump has championed cryptocurrency, even signing an executive order in early March to establish a strategic bitcoin reserve and a U.S. digital asset stockpile. In January, just four days
after taking ofice, Trump signed an executive order to establish regulatory clarity for digital financial technology and secure America’s position as the world’s leader in the digital asset economy, driving innovation and economic opportunity for all Americans. The Trump family already has
invested in an NFT (non-fungible token) trading card, two meme coins, crypto mining venture American Bitcoin, and stablecoin backer World Liberty Financial.
reafirms its neutral stance, neither endorsing, nor disapproving of, plan fiduciaries who conclude that the inclusion of cryptocurrency in a plan’s investment menu is appropriate,” the department wrote. Cryptocurrencies are
increasingly becoming a priority for America’s big banks, which are holding internal discussions about expanding into crypto as
they get stronger endorsements from regulators. Longtime crypto skeptics
remain in leadership, such as JPMorgan Chase CEO Jamie Dimon. “When I look at the bitcoin
universe, the leverage in the system, the misuse in the system, the money-laundering issues, traficking, I’m not a fan of it,” Dimon said. “We’re going to allow you to buy it; we’re not going to custody it.” — E.M.
JULY 2025 | NEWSMAX 27
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