Former 2024 Republican presidential candidate Vivek Ramaswamy criticized the current “regulation by enforcement” approach to crypto, calling it unclear and “anti-American at its core.”
Vivek Ramaswamy, a former Republican presidential candidate in the United States in 2024, has emphasized the necessity of transparent crypto regulations. He criticized the current crypto regulatory approach, describing it as “anti-American at its core.”
Vivek Ramaswamy contended in an interview with Yahoo Finance on Wednesday that cryptocurrency regulation is unclear. He criticized the current approach of “regulation by enforcement,” which has resulted in an unjust environment for firms.
“That is not the intended functioning of this nation,” he stated to the publication.
“We are entitled to more clarity, rather than ambiguity, whether it pertains to crypto or financial services in general.” The tyrant is an ally of ambiguity.
Additionally, Vivek Ramaswamy stated that the former US President Donald Trump would be “pro-crypto” if he were to be elected in November.
Ramaswamy criticized the Federal Reserve’s dual mandate on inflation and unemployment during his appearance on the Market Domination Overtime program. He postulated that this would frequently yield unsustainable outcomes for both items.
The Deregulation of the Cryptocurrency Industry by Vivek Ramaswamy
Last year, the Presidential nominee, who ultimately withdrew, advocated for the widespread deregulation of the cryptocurrency industry. He was the first Republican candidate to disclose a crypto plan at that time.
The crypto plan of the biotech entrepreneur proposed a 75% reduction in the federal personnel, which included the SEC. He stated that the deregulation of financial and investment regulations would be a top priority.
Nevertheless, the proposal would not only impact the roles responsible for crypto regulation, but also the SEC’s overall capacity to regulate financial markets.
He criticized the securities regulator, asserting that the “shadow government” has attempted to suppress the growth of cryptocurrency since its inception. “That will conclude under my supervision,” he concluded.
Ramaswamy predicted last month that Kamala Harris, the current Vice President and a potential candidate for the 2024 Presidential election, may embrace “verbiage” that is crypto-friendly.
Ramaswamy stated to CNBC, “It is simply a matter of competing for votes that she will adopt a thoughtful position.” Additionally, he stated that it would be advantageous for the nation if she implemented a well-considered digital asset framework or policy.
