Republican Candidate Vivek Ramaswamy Paving the Way for Crypto Regulation Framework
Presidential hopeful Vivek Ramaswamy is actively crafting a cryptocurrency policy framework with the goal of finalizing it by Thanksgiving.
The Republican candidate, known for his Bitcoin-friendly stance, has criticized the approach of U.S. government agencies, particularly the securities regulator, under the Biden administration, emphasizing the need for clear crypto regulations. Ramaswamy unveiled his progress during the Messari Mainnet conference, highlighting that the framework is 75% complete and seeking input from the crypto community. If he follows through with his plan, he could become the first Republican presidential candidate to propose comprehensive crypto regulation in the United States. Ramaswamy’s stance contrasts with former President Donald Trump’s known skepticism of cryptocurrencies, despite his involvement in NFTs and Ethereum.
Florida Governor Ron DeSantis, another contender, has also expressed support for cryptocurrency use and opposition to a U.S. central bank digital currency (CBDC). Ramaswamy further criticized federal agencies for their “regulation by enforcement” approach and pledged to reduce regulatory personnel significantly, including at the U.S. Securities and Exchange Commission (SEC).
Clever Robot News Desk 24th September 2023
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