Compiled by | Odaily Planet Daily ( @OdailyChina )
Translator | Ethan ( @ethanzhang_web3 )
Translators note: This speech is an important speech by US Vice President Vance at the Bitcoin 2025 Conference. It not only has a clear political stance, but also shows the current US governments policy attitude and strategic considerations towards digital assets, Bitcoin and decentralized finance. The speech covers criticism of the previous governments regulatory approach, the new governments policy priorities (such as ending the regulatory strategy of cutting off banking services), promoting the legislation of the GENIUS Act, clarifying the regulatory framework for stablecoins, and establishing Bitcoin as a national strategic asset . This speech not only reflects the transfer of the discourse power of cryptocurrency in current US politics, but also reflects the collective power of the Bitcoin community in policy shaping. It is not only a policy speech, but also a political mobilization order.
Note: In order to preserve Vances original language style, speech rhythm and emotional expression, and to make it easier to read, the full text was moderately polished and restructured during the translation process. The policies, names and terms cited in the text were kept as original as possible, and some were annotated (such as Operation Chokepoint 2.0, GENIUS Act, etc.).
Opening Remarks
Thank you, thank you everyone. First of all, I want to say thank you... Please, everyone, please take a seat. Thank you everyone.
You know, the Secret Service is a little nervous right now because I told them: These Bitcoiners dont just love guns, they really love America more, so dont worry.
I want to especially thank David Bailey for all you have done for the Bitcoin community. I especially want to thank you for your work on behalf of the President and me as we moved from the campaign to the White House. We have done so much good over the past 120 days, and none of this would have been possible without your support.
I also want to thank the Winklevoss brothers, Tyler and Cameron, who are here today, and I have to say, they really helped us break the silence in Silicon Valley.
If you remember, back in June or July of last year, which feels like a long time ago, but it was less than a year ago, people in Silicon Valley were just whispering that they might support President Trump, that the Democrats were crazy, that they needed to get rid of Gary Gensler, but they didnt dare to say it publicly, at least until then.
Until Tyler and Cameron stood up and took the lead, I think they were the first big names in Silicon Valley to really stand up and support Trump. After that, a large number of people followed suit.
So thank you, Tyler and Cameron.
pay tribute
And the friends at Coinbase, the event organizers, and everyone who makes this happen - its really an honor to be here. Especially as the price of Bitcoin is going to $108,000, at least thats what I saw this morning.
Its an honor to be the Vice President of the United States and to be in the company of such a dynamic group of people. I mean, guys, you must have been out late last night in Vegas, but to be here at 9 a.m. this morning, thats a lot of energy!
I swear Im not saying this for internet attention, but I truly believe this is more than just a conference.
This is not just any conference, this is a movement, and I am proud to stand among you today.
Speech theme
This movement will determine the future of cryptocurrency in the United States. Let us be clear: this future will be determined by you, not unelected bureaucrats.
I am also joined today by many of my colleagues in the Trump administration, including David, Bo, Hester, and I know you are here too. I am very pleased to be here with so many friends and allies.
I would like to take a few minutes to talk to you about:
our government’s progress on digital asset policy;
We have developed the guiding principles behind these policies;
And my personal optimism about the future of cryptocurrency.
Talking about technology and innovation
Many people ask me why I am so optimistic about America’s innovation prospects.
I’ve been in Silicon Valley long enough to know the difference between good technology, which makes our lives more productive, richer, more connected to the real world, and more powerful, and bad technology, which tries to disconnect us from the real world.
When it comes to cryptocurrency, I think it has been clearly demonstrated over the last few years that it is a truly foundational innovation that is already improving the lives of tens of millions of Americans.
As far as I know, 50 million Americans own Bitcoin, and I believe that number will grow to 100 million before long.
But this isn’t just about Bitcoin, and it’s not just about the accumulation of wealth. Cryptocurrencies have already changed the way Americans transact with one another, opening up financial access to those who otherwise would have been unbanked.
I see new applications of blockchain technology every day: whether it’s in supply chain management, hospital management, or storing private patient health records.
The value of encryption
And beneath all these new applications, I also see a core value of encryption technology: it is a tool to combat risks.
It’s a hedge against bad policies in Washington ;
It’s a hedge against soaring inflation —Americans’ real savings rates have been severely eroded over the past four years;
It’s also a hedge against scrutiny of the private sector — like denying banking services to gun advocates, or freezing protest funds in Canada;
Most importantly, it is a hedge against elites who seek control rather than innovation .
And we all know this: Bitcoin is not like this. Bitcoin will never be like this. You will make sure it never is.
Policy shift
As we all know, there is a new person at the helm after the change of government. In the past four years, we have witnessed the hostility and suppression of Democratic regulators. But now, the United States has the opportunity to choose: to move towards financial sovereignty, innovation and prosperity or to let unelected bureaucrats and even foreign competitors make the rules for us?
I stand here today to say it loud and clear: President Trump and our administration are the true advocates and allies of the crypto industry in the White House.
We understand the full potential of digital assets - not just an investment, not just a technological trend, but a catalyst for freedom for every American.
Government attitude towards innovators
That’s why our government is doing something few in Washington, D.C. are doing: listening to innovators like you.
You all deserve: clear rules; transparent policies; most importantly, you should be respected and supported by the government, rather than suppressed and smeared.
This means we have to take some real action.
Clearing obstacles to industry development
First and foremost: We had to clean up the mess left by the previous administration. From day one, we were committed to eliminating bureaucracy, legal harassment, and administrative intimidation.
In short: Operation Chokepoint 2.0 to debank the crypto industry is over and will never return under a Trump administration. We are abandoning the tradition of “by the book, not by the book.” Yes, we fired Gary Gensler — and we will continue to fire those who attack this community .
We want to assure every friend here: 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
Second policy priority: We are establishing a clear and scalable stablecoin regulatory framework.
Special thanks to Sen. Cynthia Lummis, who is a staunch 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 US regulation. We hope to change this situation.
Stablecoins will not threaten the dollar — quite the opposite, they will be the new engine of the dollar. Let me be clear: President Trump will sign this bill the moment it reaches his desk.
Mainstream legislation
Third, we are developing an appropriate and innovation-friendly regulatory system to truly incorporate digital assets into the mainstream economic system.
I know a lot of people are still concerned that cryptocurrencies won’t be accepted by the mainstream. Let’s change that.
What can really lock in this process is legislation: clear market structure bills that can ensure that cryptocurrencies are not suppressed or marginalized in the coming decades.
If we don’t act now, America will lose leadership in this $3 trillion industry.
President Trump will not let that happen.
Conclusion and three suggestions
It’s almost time, but before I head back to Washington, I want to leave you with three pieces of advice:
First, continue to be politically engaged. Cryptocurrencies are digital, but we are not. If you ignore politics, politics will get you. You made your voice heard in 2024, and you will continue to do so in 2026 and beyond.
Second, start thinking long-term. Bitcoin is a strategic asset of the United States. So we should think more: Should we embrace Bitcoin more?
Third, pay attention to the development of AI. Although many right-wing technology leaders tend to favor Bitcoin and many left-wing technology leaders tend to favor artificial intelligence, they are not two separate worlds. The development of artificial intelligence will affect cryptocurrency, and vice versa.
We need Bitcoin to have a voice in the AI conversation to protect innovation and freedom.
Conclusion
Our government has a commitment to you: I hope you will continue to support us and this cause.
We need your help, guidance, encouragement, and sometimes pressure.
So, enjoy your week, but keep the pressure on.
Together, we will make a great contribution to this industry, to financial freedom, and to the United States of America.
God bless you and thank you for having me.
