Vivek Ramaswamy Applauds Grayscale’s Legal Win Against SEC
Republican Presidential candidate Vivek Ramaswamy praised Grayscale Investments’ recent legal victory over the SEC, stating that it will help prevent Bitcoin and blockchain innovation from leaving the US. Ramaswamy criticized the “shadow government” in Washington, D.C. and emphasized the importance of federal courts as a defense against government agencies.
- The US Court of Appeals ruled in favor of Grayscale Investments, stating that the SEC’s rejection of their application to convert Grayscale Bitcoin Trust into a spot Bitcoin ETF was arbitrary.
- Grayscale’s win led to a rally in Bitcoin and the broader cryptocurrency market, marking a significant breakthrough against the SEC’s strict regulatory approach.
- Ramaswamy’s support for Bitcoin aligns with recent court rulings favoring the cryptocurrency sector, such as Ripple Labs’ partial win over the SEC in July.
- Ramaswamy believes that clear regulations are crucial for the industry and criticizes central bank digital currencies (CBDCs) and proposed excise taxes on Bitcoin miners.
- He argues against the creation of a digital dollar, stating that it would weaken the currency and grant the government excessive control over people’s finances.
Vivek Ramaswamy’s endorsement of Bitcoin extends to his campaign website, which accepts donations in various cryptocurrencies. Grayscale’s victory against the SEC is seen as a significant win for the cryptocurrency industry, allowing for continued innovation and growth in the US.
Hot Take: Vivek Ramaswamy’s support for Grayscale’s legal win reflects his commitment to fostering innovation and protecting the cryptocurrency industry from excessive regulation. His stance against central bank digital currencies and a digital dollar aligns with the principles of decentralization and individual financial freedom.
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