Presidential hopeful Vivek Ramaswamy is working on a crypto policy framework that he aims to finalize by Thanksgiving. The Republican criticized the regulation-by-enforcement approach of U.S. government agencies like the securities regulator under the administration of President Joe Biden and vowed to cut three-fourths of their personnel.
Presidential Candidate Vivek Ramaswamy Preparing His Crypto Platform
Vivek Ramaswamy, one of the contenders for the Republican Party’s nomination for the 2024 U.S. presidential election, is drafting a crypto policy framework. The Bitcoin-friendly candidate wants to present his platform by Thanksgiving.
On Thursday, Ramaswamy unveiled his plan at the Messari Mainnet conference, catching the attention of U.S. media and exciting members of the crypto community. The right-wing politician said the blueprint is 75% ready, asking the audience for input.
— Phil Rosen (@philrosenn) September 20, 2023
The Republican made the announcement during a discussion with Messari CEO Ryan Selkis who has been helping Ramaswamy with the draft and confirmed the progress made by his team so far. Selkis was quoted by DL News as stating:
A major presidential candidate actually having a fully baked position on crypto is something — I hope people will take up Vivek and his campaign on actually submitting some feedback.
If Ramaswamy makes good on his promise, he is likely to become the first among Republican hopefuls for the White House to put out a comprehensive proposal to regulate crypto assets and related activities in the United States.
The GOP front-runner, former President Donald Trump, has previously made it clear he is “not a fan” of cryptocurrencies despite issuing a collection of non-fungible tokens (NFTs) with his image and declaring an Ethereum wallet with at least $1 million in its balance.
Florida Governor Ron DeSantis, who is ahead of Vivek Ramaswamy in most polls, has promised to protect people’s rights to use bitcoin and end the current government’s “war on cryptocurrency” waged by regulators under the administration of Democratic President Joe Biden.
However, DeSantis is yet to elaborate on his crypto policy in case he is elected president. Both DeSantis and Ramaswamy have made statements against plans to issue a U.S. central bank digital currency (CBDC) describing it as a “threat to liberty” in America.
During the crypto event in New York, Ramaswamy, a 38-year-old entrepreneur with background in the pharmaceutical and biotech industries as well as finance, also criticized federal agencies for their “regulation by enforcement” attitude. He also vowed to lay off three-fourths of the staff of regulatory bodies like the U.S. Securities and Exchange Commission (SEC).
Do you expect other presidential candidates to also prepare dedicated crypto policy frameworks? Tell us in the comments section below.