The emerging Republican Presidential hopeful has unveiled his Crypto policy framework to be executed when he becomes President of the United States in 2024.
Here is what you need to learn about the news.
Vivek Ramaswamy Is Drafting a ‘Crypto Policy Framework’
Republican 2024 Presidential candidate Vivek Ramaswamy has announced his plans to develop a “comprehensive crypto policy framework” by Thanksgiving.
The significant announcement came Wednesday evening at Messari’s Mainnet crypto conference.
In a fireside chat with Messari CEO Ryan Selkis, the presidential hopeful expressed his thoughts on cryptocurrencies, recent SEC (Securities and Exchange Commission) rulings, and how cryptocurrency has disrupted traditional finance.
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In the conference, Ramaswamy, who has positioned himself as the most crypto-friendly candidate, said he would start his campaign’s crypto platform by Thanksgiving.
Ramaswamy said he has “relatively strong views on what the future of governmental interface with crypto should be.”
While talking about his vision for crypto laws in the country, Ramaswamy criticized the regulatory agencies, calling them the ‘unconstitutional fourth branch of government.’
He expressed concern regarding the holding of political power by what he called ‘unelected agencies.’
Ramaswamy said, “That is the cancer at the heart of our federal government today. Most of the political power is wielded by people who are never elected to their positions that sit in the back of three-letter government agency buildings in Washington DC in a three-letter regulatory alphabet soup.”
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He added, “One of my chief issues with agencies like the FDA and the SEC is this regulation-via-enforcement paradigm, where they refuse to pre-specify what the rules actually are.”
The entrepreneur-turned-politician vowed to fire three-fourths of the employees at several federal regulatory agencies, including the SEC, when he becomes the President in the upcoming year.
Ramaswamy also slammed SEC chairman Gary Gensler (nominated by President Joe Biden), saying the agency cannot state “whether Ethereum is a security or not.”
Messari CEO Ryan Selkis, who is a strong supporter of Ramaswamy and has been helping the presidential candidate to design his crypto platform, agreed with the Presidential candidate and said that it is “75% there.”
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At the conference stage, Selkis said about Ramaswamy, “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.”
Ramaswamy’s declaration of his crypto policy framework shows the considerable impact of the Republican presidential candidate in designing the future of cryptocurrency laws in America.
The youngest Republican Presidential hopeful has gained prominence since he captured the spotlight in the Republican first primary debate last month.
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Although the Florida governor was considered Trump’s major rival in the early days of the Presidential campaign as he stood second behind the former President in most polls, Ramaswamy has now been seen surpassing him.
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