Original Title: "Vice President Vance's Full Speech at the Bitcoin 2025 Conference"

Original Translation: Ethan, Odaily Planet Daily

Translator's Note: This speech by Vice President Vance at the Bitcoin 2025 Conference is a key address that not only reflects a clear political stance but also demonstrates the current U.S. government's policy position and strategic considerations on digital assets, Bitcoin, and decentralized finance. The speech covers criticism of the previous government's regulatory approach, the new government's policy priorities (such as ending the "Operation Chokepoint" regulatory strategy), advancing the "GENIUS Act" legislation, clarifying stablecoin regulatory frameworks, and establishing Bitcoin as a national strategic asset, among other topics. This speech not only reflects a shift in the cryptocurrency discourse within current U.S. politics but also showcases the collective power of the Bitcoin community in shaping policy. It is not just a policy speech but also a political mobilization manifesto.

Note: In order to preserve Vance's original language style, speech rhythm, and emotional expression while ensuring readability, the full text has been slightly polished and structurally adjusted during the translation process. The policy references, names, and terms mentioned in the text have been kept as faithful to the original meaning as possible, with some annotations provided (such as "Operation Chokepoint 2.0," "GENIUS Act," etc.).

Opening Address

Thank you, thank you, everyone. First of all, I want to express my gratitude... Please, be seated. Thank you all. You know, the Secret Service is a bit nervous right now because I told them: these Bitcoin supporters not only love guns, they truly love America, so rest assured.

I want to give special thanks to David Bailey; I deeply appreciate everything you have done for the Bitcoin community. Particularly, thank you for your efforts on behalf of me and the President; it was your help that transitioned us from the campaign into the White House. In the past 120 days, we have accomplished many valuable things, and none of this would have been possible without your support. I also want to thank the Winklevoss brothers—Tyler and Cameron, who should also be present today. I must say, they truly helped us break the silence of Silicon Valley.

If you remember, back to last June or July—although it feels like a long time ago, it's actually less than a year ago. At that time, in Silicon Valley, people were just quietly discussing among themselves, indicating that they might support President Trump, saying that the Democrats were too crazy and that Gary Gensler had to be ousted. But at least until then, they did not dare to speak out publicly. It wasn't until Tyler and Cameron stepped forward, taking the lead in speaking out, that I believe they were the first significant figures in Silicon Valley to openly support Trump. After that, a large number of people followed suit.

So, thank you, Tyler and Cameron.

Tribute

And to the friends at Coinbase, the event organizers, and all those who made this gathering possible—truly honored to be here. Especially as Bitcoin surged past $108,000, at least that's the price I saw this morning. As the Vice President of the United States, it is my privilege to be among such a vibrant group of people. I mean, folks, you sure partied hard in Las Vegas last night, but here you are at 9 a.m. this morning, full of energy!

I swear I'm not just saying this for internet points, but I truly believe this is not just a conference. This isn't your average meeting; this is a movement. I am proud to stand among you today.

Keynote Address

This movement will determine the future of American cryptocurrency. Let's be clear: this future will be decided by you, not by unelected bureaucrats. Among us today are many of my colleagues from the Trump administration, including David, Bo, Hester, I know you're here too. It's a great pleasure to be gathered with so many friends and allies.

I would like to take a few moments to talk to you about:

· The progress our government is making in digital asset policy;

· The guiding principles behind our policymaking;

· And my personal optimism for the future of cryptocurrency.

Discussing Technology and Innovation

Many ask me why I am so optimistic about America's innovation prospects. Having spent enough time in Silicon Valley, I know the difference between good and bad technology, where 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 unequivocally demonstrated it as a true foundational innovation that has already improved the lives of tens of millions of Americans. As far as I am aware, 50 million Americans own Bitcoin, and I believe this number will soon grow to 100 million.

But it's not just about Bitcoin, not just about amassing wealth. Cryptocurrency has already changed how Americans transact with each other, opening financial doors for those who were previously unbanked. Every day, I see new applications of blockchain technology: whether in supply chain management, hospital administration, or in securing patient privacy health records.

The Essence of Cryptographic Value

Amidst all these new applications, I also see a core value of cryptographic technology: it is a tool against risk.

· It is a hedge against Washington's bad policies;

· It is a hedge against skyrocketing inflation—in the past four years, the real savings rate of Americans has been severely eroded;

· It is also a hedge against scrutiny of the private sector—such as refusing to provide banking services to gun rights supporters or freezing protest funds in Canada;

· Most importantly, it is a hedge against the elite seeking control rather than innovation.

And we all know: Bitcoin is not like that. Bitcoin will never be like that. You will ensure that it never is.

Policy Shift

Everyone knows that, after the transition, there is a new helmsman here. Over the past four years, we have witnessed the hostility and suppression of Democratic regulators. But now, America has the opportunity to choose: whether to move towards financial sovereignty, innovation, and prosperity or to let those unelected bureaucrats, or even foreign competitors, set the rules for us?

I stand here today to tell everyone loudly and clearly: President Trump and our government are true advocates and allies of the cryptocurrency industry in the White House. We understand the full potential of digital assets—not just as an investment, a tech trend, but as a catalyst for every American's freedom.

Government Attitude Toward Innovators

This is why our government is doing something rare in Washington, D.C.: listening to the voices of innovators like you. You all deserve: clear rules; transparent policies; most importantly, you should be respected and supported by the government, not suppressed and vilified. This means we need to take some real action.

Clearing Industry Development Obstacles

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. Simply put, the "Chokepoint 2.0" operation to "cut off the cryptocurrency industry's bank accounts" has been completely terminated, and under the Trump administration, it will never return. We have abandoned the tradition of "having rules but not following them." Yes, we fired Gary Gensler—we will continue to fire those who attack this community. We want to assure each and every friend here: we will not suppress you, we will not hinder you, we will not weaken your positive impact on the economy.

Stablecoin Policy and the GENIUS Act

Second Key Policy: We are establishing a clear and scalable stablecoin regulatory framework. Special thanks to Sen. Cynthia Lummis, a staunch supporter of your cause in Congress. She is championing the passage of the GENIUS Act, which will represent a key breakthrough in stablecoin legislation. Many stablecoin projects have been forced to move overseas due to unclear U.S. regulation. We aim to change this situation. Stablecoins will not threaten the dollar's status—in fact, they will be a new engine for the dollar. Let me be clear: President Trump will sign the bill the moment it reaches his desk.

Mainstreaming Legislation

Thirdly, we are developing a suitable and innovation-friendly regulatory system that truly integrates digital assets into the mainstream economy. I know many still worry that cryptocurrency won't be accepted by the mainstream. Let's change that perception. The key to solidifying this process is legislation: clear market structure bills that can ensure that cryptocurrency is not suppressed or marginalized in the decades to come. If we don't act now, the U.S. will lose its leadership in this $3 trillion industry. President Trump will not let that happen.

Closing Remarks and Three Recommendations

As time is running out, but before I head back to Washington, I'd like to leave you with three recommendations:

First, continue your political engagement. Cryptocurrency is digital, but we are not. If you ignore politics, politics will cause trouble for you. You made your voices heard in 2024; keep doing so in 2026 and beyond.

Second, start thinking long term. Bitcoin is America's strategic asset. China doesn't like it. So, should we embrace Bitcoin even more?

Third, pay attention to AI's development. While many right-wing tech leaders lean towards Bitcoin and many left-wing tech leaders lean towards artificial intelligence, these are not two separate worlds. The advancement of artificial intelligence will impact cryptocurrency, and vice versa.

We need Bitcoin to have a voice in the artificial intelligence conversation to protect innovation and freedom.

Conclusion

Our government promises you: I hope you continue to support us, support this cause. We need your help, guidance, and encouragement, and sometimes we need your pressure. So, enjoy this week, but also maintain the pressure. Together, we will make a great contribution to this industry, to financial freedom, and to the United States of America. God bless you all, and thank you for inviting me.

Other Stakeholders

The White House Cryptocurrency and AI Czar, known as the "Crypto Tsar," David Sacks, stated: "We see blockchain, Bitcoin, and cryptocurrency as the future of the financial system."

The Trump administration's Chief of Staff remarked: "Bitcoin is the gold standard." and emphasized, "We're not going to sell any Bitcoin that the U.S. government holds, period."

U.S. Senator from Wyoming, Cynthia Lummis, stated that Trump supports her Bitcoin legislation. Speaking at a Bitcoin conference in Las Vegas, Lummis said that Trump "has a team in the White House that is dedicated to the issue of digital assets—from stablecoins to market structure to Bitcoin strategic reserves—they may roll out in that order." The Senator's draft Bitcoin legislation proposes establishing a strategic Bitcoin reserve and acquiring 1 million Bitcoins for this purpose. Additionally, she mentioned that a senior U.S. military leader is "very supportive" of establishing a strategic Bitcoin reserve to enhance economic power.

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