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The Week In Crypto Policy: Vance's Crypto Stance & A Financial Services Funding Bill
Key Insights
- Senator J.D. Vance has been generally supportive of crypto and fair access to banking, while opposing SAB 121, a U.S. CBDC, and overly expansive tax reporting requirements for digital asset brokers.
- The House is slated to consider an appropriations bill next week that includes provisions to defund SAB 121, defund Treasury's efforts to build a CBDC, and defund certain crypto enforcement actions until there is more legal clarity; additional crypto-related amendments are pending in the House Rules Committee.
Senator Vance On Crypto
Earlier this week, former President Trump selected Senator J.D. Vance (R-OH) as his running mate. Senator Vance was sworn into the U.S. Senate in January 2023 at the start of the 118th Congress.
Here’s a look at Senator Vance’s crypto policy positions over the last few years.
SAB 121
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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.