Drafting a Comprehensive Framework for Crypto Policy: Vivek Ramaswamy's Initiative

Police & Regulations
Sep 21, 2023 at 12:42 pm

Vivek Ramaswamy, a Republican candidate for the presidential race, made a significant announcement at Messari’s Mainnet crypto conference in New York. He revealed his intention to unveil a comprehensive crypto policy framework by Thanksgiving, emphasizing the importance of clear guidelines in the cryptocurrency space.

During a discussion with Ryan Selkis, the CEO of data company Messari, Ramaswamy touched on various topics, including recent SEC rulings and the transformative potential of blockchain technology in traditional finance. He also critiqued regulatory agencies, referring to them as an "unconstitutional fourth branch of government" and highlighting their immense influence without direct accountability to the public.

Selkis, who had a chance to review the framework, echoed Ramaswamy's sentiment, indicating that it is currently in a highly advanced state of development. Ramaswamy's proactive stance on the government's role in cryptocurrency regulation signifies a significant shift in the political landscape, with crypto becoming an increasingly prominent topic in U.S. politics.

While Bitcoin's inception was rooted in libertarian ideals, the industry has largely evaded strict political categorization. However, Ramaswamy's strong endorsement of crypto may signal a more conservative leaning within the sector.

Prior to his presidential campaign, Ramaswamy made a name for himself as a pharmaceutical entrepreneur. He positioned himself as a tech-savvy successor to the populist movement led by Donald Trump. With stances often further to the right than Trump, Ramaswamy gained notable attention during a debate in August, solidifying his position as a significant political contender.

A recent CNN poll placed Ramaswamy second only to Donald Trump in the race for the nomination, surpassing other prominent figures like Florida Governor Ron DeSantis. This indicates a rapid rise in political influence for the 38-year-old candidate.

Ramaswamy's positive remarks about crypto at the conference align with his previous expressions of support for the industry. Just last month, he celebrated a court ruling against the SEC in their case with Grayscale, a decision viewed as favorable for the blockchain sector.

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