- At Bitcoin 2025, JD Vance ends Project Chokepoint 2.0.
- Trump supports the Stablecoin Regulation GENIUS Act.
- Strategic Bitcoin Reserve planned to boost U.S. crypto leadership.
While speaking at the Bitcoin 2025 Conference in Las Vegas on May 28, 2025, Vice President Vance declared the end of Operation Chokepoint 2.0.The policy which made it harder for cryptocurrency companies to use banks, was removed during the Trump administration. Vance made it clear that digital assets, mainly Bitcoin, will enjoy greater support within the U.S. financial sector.
During the conference that took place in the Venetian Convention Center, a vice president made their debut appearance as a speaker at the particular gathering. Through his speech, Vance signaled the administration’s dedication to supporting new ideas in cryptocurrency. He pointed out that regulators had replaced Gary Gensler as SEC Chair, suggesting a move toward less aggressive regulation.
Crypto advocates have introduced the term Operation Chokepoint 2.0 to describe when federal regulators make it difficult for digital asset companies to work with banks. Coinbase received documents from the Freedom of Information Act that showed the FDIC had sent pause letters to banks asking them to stop dealing with cryptocurrencies. These policies caused great challenges for the industry.
According to Vance, the administration will keep dismissing officials who create restrictive rules around crypto. He emphasized that integrating digital assets into regular finance benefits the economy and confirms that they are here to stay.
Push for Crypto Legislation and Strategic Bitcoin Reserve
Vance backed proposals to clarify the rules for the cryptocurrency industry. He voiced hope that the GENIUS Act, a bill on stablecoins, would make progress in Congress. Vance claims that the availability of stablecoins is the driving force for the bill, which aims to keep the US dollar dominant on the world stage. He let those in attendance know that President Donald Trump would sign the bill when it gets to his desk.
The VP also said that establishing a Strategic Bitcoin Reserve would give the United States a dominant position in the cryptocurrency industry. As part of a larger geopolitical plan, the U.S. wants to move ahead of rivals like China. He emphasized that Bitcoin does not compete with the dollar but helps boost the nation’s economic development.
Administration officials are paying special attention to a bill that would oversee the $3 trillion crypto industry. He noted that if the industry doesn’t have clear rules, there is a risk that it will move elsewhere, where the rules are friendlier. He told Congress to put its attention on laws that boost innovation and help the United States remain competitive.
Senator Cynthia Lummis announced that the Senate would deliberate on the BITCOIN Act next week, showing more support for President Biden’s cryptocurrency policies. The act aims to smooth Bitcoin’s integration into the financial system.
Vance brought up the interplay between AI and Bitcoin. He urged members of the crypto community to get involved in AI talks to keep technology balanced. He pointed out that Bitcoin’s future will depend on progress in AI and we should be at the forefront in both areas.
The speech made it clear that the Trump administration is now promoting crypto, after many years of resistance to it. He explained that the crypto industry’s backing, including from Coinbase and Gemini, played a big role in influencing the outcomes of recent elections. He asked for continued participation in politics to keep things moving.
Caitlin Long of Custodia Bank and other industry experts have pointed out that ongoing policies from the Federal Reserve show that Operation Chokepoint 2.0 is still active. Even so, the administration’s push for regulatory reform and Bitcoin entering the mainstream was a major subject at the event.
