Vice President Vance spoke at Bitcoin 2025 to back the GENIUS Act.
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00:00As President Trump's Genius Act sits in the Senate, Vice President J.D. Vance took the stage
00:04at Bitcoin's biggest conference of the year to back the stablecoin legislation.
00:08Speaking at Bitcoin 2025 in Las Vegas, Vance told the crowd,
00:12in this administration, we do not think that stablecoins threaten the integrity of the U.S.
00:16dollar. Quite the opposite. We view them as a forced multiplier of our economic might.
00:21He went on to add that dollar-pegged stablecoins, particularly once genius is enacted, is only
00:25going to help the American economy. Earlier in May, Trump's crypto czar, David Sachs, said the
00:30Genius Act could create trillions of dollars of demand for U.S. treasuries. However, Democrats
00:35previously rejected the Genius Act because of concerns over Donald Trump's own crypto projects.
00:39Those include Trump-branded meme and stablecoins from his family's businesses. At the time of this
00:44taping, Bitcoin, a popular barometer for the overall crypto industry, traded upwards of $108,000,
00:50near all-time highs. That'll do it for your Daily Briefing. From New York City,
00:53I'm Kelsey Barbario with The Street.
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