President Donald Trump pledged to support the cryptocurrency industry during last year's campaign and even delivered the keynote address at the world's largest Bitcoin conference.

Vice President J.D. Vance recently doubled down on that pledge, telling investors, "We reject regulators."

Vance boasts of firing Biden-era officials

According to Newsmax, Vance's remarks were made on Wednesday when he addressed attendees at the Bitcoin 2025 conference in Las Vegas.

"This is my vow to every single person here: You will never see this administration trying to handicap your community or diminish the impact it's had on the economy," the vice president asserted.

Vice President JD Vance issued a warning for Biden administration regulatory holdovers, including those behind efforts to use threats on banks to enforce government's political will. Read more: https://t.co/hqC5exgpfR pic.twitter.com/Q99F0D2c1G

— NEWSMAX (@NEWSMAX) May 28, 2025

"Instead, we reject the Biden administration's legacy of death by a thousand enforcement actions. We reject regulators," he declared.

"Maybe, maybe the most important thing that we did for this community, we reject regulators. And we fired Gary Gensler, and we're going to fire everybody like him," Vance added.

Vance: "Anyone should be able to make a fortune"

Newsmax noted that Gensler served as chair of the Securities and Exchange Commission (SEC) under former President Joe Biden and oversaw something known as Operation Choke Point 2.0.

The initiative sought to target the cryptocurrency industry in a similar manner to how the Obama administration attempted to debank the firearm industry with Operation Choke Point.

"And we know that people like Gary Gensler, the game that they played is that, under the pretense of consumer protection, they attacked every single effort to democratize our financial markets — and that is over America," Vance said.

"I grew up in a working-class family," Vance recalled. "I believe that America is a place where anyone should be able to make a fortune, no matter where you grew up, what degree you may or may not have."

"We're ending the weaponization of federal regulations"

"To put it simply: Operation Choke 2.0 is dead, and it's not coming back under the Trump administration," the vice president stated.

"Our administration, we prioritize eliminating the rules, the red tape and the lawfare that we saw aimed at crypto by our predecessors," Vance maintained. "We're ending the weaponization of federal regulations against this community.

"And by the way, it's crazy that was ever even controversial. The idea of using the regulatory power of the government to crush an industry and to crush people who espoused a view that you didn't like – it's crazy," he complained.