Vivek Ramaswamy Criticizes SEC’s Ambiguous Stance on Crypto Regulation
Presidential candidate Vivek Ramaswamy recently voiced his concerns about the Securities and Exchange Commission (SEC) and its lack of clarity regarding cryptocurrency regulation. Speaking at the Messari Mainnet conference, Ramaswamy argued that this ambiguity benefits Federal agencies rather than the regulated community by fostering uncertainty.
Ramaswamy Targets SEC Chairman Gary Gensler
Ramaswamy specifically criticized SEC Chairman Gary Gensler for failing to provide clarification on whether Ethereum should be considered a security. He claimed that this lack of clarity gives Federal agencies excessive power over the regulated community. Ramaswamy emphasized that as a US president, he could rectify this situation and reduce the influence of unelected Federal employees.
The “Keep Your Coins Act” and Self-Custody Cryptocurrency
Ramaswamy also discussed the “Keep Your Coins Act,” which aims to protect individuals’ right to self-custody their cryptocurrency. He drew parallels between this legislation and the third-party doctrine, which undermines citizens’ privacy rights when sharing information with third parties.
Ramaswamy Applauds Grayscale Investments’ Victory
Ramaswamy celebrated a recent Federal court decision that allowed Grayscale Investments to challenge an SEC order, resulting in the reversal of a listing block. He viewed this as a significant win for Bitcoin and blockchain innovation in the United States.
Ramaswamy’s Crypto Policy Framework and Endorsements
Ramaswamy’s campaign plans to release a crypto policy framework in November. With endorsements from former President Donald Trump and a current polling rate of 7% among GOP hopefuls, Ramaswamy has garnered attention. He has also expressed interest in having Elon Musk, CEO of Tesla, as an advisor if he wins the 2024 US Election.
Hot Take: Ramaswamy’s Commitment to Crypto Regulation and Reduced Federal Workforce
Vivek Ramaswamy’s criticism of the SEC’s ambiguous approach to crypto regulation resonates with many blockchain enthusiasts. His promise to clarify regulations and reduce the power of unelected Federal employees demonstrates his commitment to fostering a more transparent and efficient regulatory environment for the cryptocurrency industry.
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