According to Odaily, Republican vice-presidential candidate J.D. Vance is emerging as a potential ally for the cryptocurrency industry, given his previous efforts to establish clearer legislation. Vance, known for his book 'Hillbilly Elegy' and his career as a venture capitalist, has recently drafted a bill aimed at reforming the United States' regulatory approach to digital assets. Sources indicate that this proposed legislation could be more favorable to the crypto sector than a bill passed by the House in June. Similar to the House bill, Vance's plan seeks to overhaul how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulate the cryptocurrency market. This reform is a significant priority for cryptocurrency companies and investors dissatisfied with current policies in Washington. Notably, Vance did not disclose any purchases or sales of cryptocurrencies in his recent Senate financial disclosure.
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