-- While China continues to maintain its ban on cryptocurrency trading and mining since 2021, US Vice President JD Vance has urged the United States to capitalize on this situation by adopting bitcoin, the largest cryptocurrency in the world. Vance made the statement on Wednesday at the Bitcoin Conference in Las Vegas.
According to Vance, the US should consider why its main opponent, the People's Republic of China, is so opposed to bitcoin. He suggested that if China distances itself from bitcoin, it could be beneficial for the US to take a more supportive stance towards the digital asset.
Vance's comments came amid ongoing efforts by the White House to renew crypto policies, with the vice president viewing bitcoin as a strategically important asset for the US over the next decade. He praised President Donald Trump's executive order in March, which established a strategic bitcoin reserve using tokens already held by the government.
Under President Trump's administration, digital assets experienced a resurgence. Trump, who positioned himself as the "crypto president," formed a cryptocurrency task force during the first week of his term to advise on the regulation of digital assets. In March, he also held meetings with crypto executives at the White House.
