This speech by U.S. Vice President Pence at the Bitcoin 2025 Conference is a significant statement that clearly reflects the political stance of the current U.S. government and its policy stance and strategic considerations regarding digital assets, Bitcoin, and decentralized finance. The speech covers a range of topics, including criticism of the previous administration’s regulatory approach, the new administration’s policy priorities (such as ending the “cutting off banking services” regulatory strategy), promoting the legislation of the GENIUS Act, establishing a regulatory framework for stablecoins, and designating Bitcoin as a national strategic asset. This speech not only reflects the shifting influence of cryptocurrency discourse in current U.S. politics but also highlights the collective power of the Bitcoin community in shaping policy. It is not merely a policy speech but a political call to action.
Opening Remarks
Thank you, thank you all. First, I would like to say thank you… Please be seated. Thank you all.
You know, the Secret Service is a little nervous right now because I told them: these Bitcoin supporters not only love guns, they truly love America even more, so please rest assured.
I would like to especially thank David Bailey. Everything you’ve done for the Bitcoin community is deeply appreciated. Especially for your efforts on behalf of me and the President—it was your help that brought us from the campaign trail to the White House. Over the past 120 days, we’ve accomplished a lot of meaningful work, and none of it would have been possible without your support.
I also want to thank the Winklevoss brothers—Tyler and Cameron—who should be here today. I must say, they truly helped us break the silence in Silicon Valley.
If you recall, back in June or July of last year—though it feels like ages ago, it was less than a year. At the time, in Silicon Valley, people were only whispering privately, suggesting they might support President Trump, saying Democrats were too extreme and needed to remove Gary Gensler. But at least before that, they dared not speak out publicly.
It wasn’t until Tyler and Cameron stepped forward and spoke out that I believe they became the first major figures in Silicon Valley to openly support Trump. After that, many others followed suit.
So, thank you, Tyler and Cameron.
Salute
And to the friends at Coinbase, the event organizers, and everyone who made this event possible—it’s truly an honor to be here. Especially with Bitcoin hitting $108,000—at least that’s what I saw this morning.
As Vice President of the United States, it’s an honor to be among such a vibrant group of people. I mean, guys, you must have stayed up late in Las Vegas last night, but you were here on time at 9 a.m. today—that’s some energy!
I swear I’m not saying this just to get online buzz, but I genuinely believe this is more than just a conference.
This isn’t an ordinary meeting; it’s a movement. I’m proud to stand among you today.
Speech Summary
This movement will determine the future of cryptocurrency in the United States. Let’s be clear: this future will be decided by you, not by unelected bureaucrats.
Among those present today are many of my colleagues from the Trump administration, including David, Bo, and Hester. I know you’re here. I’m thrilled to be here with so many friends and allies.
I’d like to take a few minutes to discuss:
The progress our government has made on digital asset policy;
The guiding principles behind these policies;
And my personal optimism about the future of cryptocurrency.On Technology and Innovation
Many people ask me why I am so optimistic about the future of innovation in the United States.
I have spent enough time in Silicon Valley to know the difference between good technology and bad technology. Good technology enhances productivity, enriches our lives, connects us more closely to the real world, and empowers us, while bad technology seeks to disconnect us from the real world.
When it comes to cryptocurrency, I believe the past few years have clearly demonstrated that it is a true foundational innovation that has already improved the lives of tens of millions of Americans.
As far as I know, 50 million Americans own Bitcoin, and I believe this number will soon grow to 100 million.
But this is not just about Bitcoin, nor is it solely about wealth accumulation. Cryptocurrency has transformed how Americans transact with one another, opening financial doors for those who previously lacked bank accounts.
Every day, I see new applications of blockchain technology: whether in supply chain management, hospital management, or storing patients’ private health records.
The core value of encryption
Beneath all these new applications, I also see a core value of encryption technology: it is a tool for hedging against risk.
It is a hedge against Washington’s poor policies;
It is a hedge against skyrocketing inflation—over the past four years, Americans' real savings rates have been severely eroded;
It is also a hedge against private-sector censorship—such as refusing to provide banking services to gun advocates or freezing protest funds in Canada;
Most importantly, it is a hedge against the elite class that seeks control rather than innovation.And we all know: Bitcoin is not like that. Bitcoin will never be like that. You will ensure it never is.
Policy Shift
As everyone knows, after the transition, there is a new leader at the helm. Over the past four years, we have witnessed the hostility and suppression of Democratic regulators. But now, the United States has a choice: to move toward financial sovereignty, innovation, and prosperity, or to let unelected bureaucrats—or even foreign competitors—dictate the rules for us?
I stand here today to make it loud and clear: President Trump and our administration are the true champions and allies of the crypto industry in the White House.
We understand the full potential of digital assets—not just as investment vehicles or technological trends, but as catalysts for the freedom of every American.
The Government’s Attitude Toward Innovators
That is why our government is doing something rare in Washington, D.C.: listening to the voices of innovators like you.
You deserve: clear rules; transparent policies; and most importantly, you deserve to be respected and supported by the government, not suppressed and smeared.
This means we must take concrete actions.
Clearing Obstacles to Industry Development
First and foremost: we must clean up the mess left by the previous administration. From day one, we have been committed to eliminating bureaucracy, legal harassment, and administrative enforcement intimidation.
In simple terms: the “Chokepoint 2.0” campaign to “cut off crypto industry bank accounts” has been completely ended, and it will never resurface under the Trump administration. We have abandoned the tradition of “following the rules without adhering to them.” Yes, we fired Gary Gensler—and we will continue to fire those who attack this community.
We assure every friend here today: we will not suppress you, we will not hinder you, and we will not weaken your positive impact on the economy.
Stablecoin Policy and the GENIUS Act
The second key policy: we are establishing a clear, scalable regulatory framework for stablecoins.
Special thanks to Sen. Cynthia Lummis, a steadfast supporter of yours in Congress. She is pushing for the passage of the GENIUS Act, which will bring a key breakthrough in stablecoin legislation. Many stablecoin projects have been forced to move overseas due to unclear U.S. regulations. We aim to change this situation.
Stablecoins do not threaten the dollar’s status—on the contrary, they will be the dollar’s new engine. Let me be clear: President Trump will sign the bill the moment it reaches his desk.
Mainstreaming legislation
Third, we are developing a suitable and innovation-friendly regulatory framework that will truly integrate digital assets into the mainstream economy.
I know many people still worry that cryptocurrencies will not be accepted by the mainstream. Let’s change that perception.
What will truly lock in this process is legislation: a clear market structure bill that will ensure that cryptocurrencies are not suppressed or marginalized for decades to come.
If we do not act now, the United States will lose its leadership in this $3 trillion industry.
President Trump will not let that happen.
Conclusion and Three Recommendations
Time is running out, but before I return to Washington, I would like to leave you with three recommendations:
First, continue political engagement. Cryptocurrency is digital, but we are not. If you ignore politics, politics will find you. In 2024, you made your voices heard; in 2026 and beyond, keep it up.
Second, start thinking long-term. Bitcoin is a strategic asset for the United States. So we should ask ourselves: Should we double down on Bitcoin?
Third, pay attention to AI development. While many right-wing tech leaders lean toward Bitcoin and many left-wing tech leaders lean toward AI, they are not two separate worlds. AI development will impact cryptocurrency, and vice versa.
We need Bitcoin to have a voice in the AI conversation to protect innovation and freedom.
Conclusion
Our government promises you: I hope you will continue to support us and this cause.
We need your help, guidance, and encouragement—and sometimes your pressure.
So, enjoy this week, but keep the pressure on.
We will work together to make great contributions to this industry, financial freedom, and the United States of America.
May God bless you, and thank you for inviting me.
