- Presidential candidate Vivek Ramaswamy announces his plans to implement a comprehensive crypto policy framework.
- Ramaswamy criticizes the SEC for their regulation by enforcement, addressing them as “three-letter” entities.
- The candidate’s plans include the restructuring of the SEC if he wins the White House.
Vivek Ramaswamy, a Republican candidate for the American Presidential election, recently shared insights on the potential establishment of blockchain technology and digital assets in the US, by introducing a “comprehensive crypto policy framework”. During the Messari Mainnet conference in New York, on Wednesday, Ramaswamy sat for a “fireside chat” with Messari CEO Ryan Selkis, lambasting the “regulation by enforcement”, referring to the crypto regulations of the Securities and Exchange Commission (SEC).
Fox Business journalist Eleanor Terrett took to Twitter earlier today to narrate Ramaswamy’s determination to retain the nation’s lead in the crypto industry by implementing comprehensive rules. As per the journalist’s tweet, the aspiring applicant has plans to shuffle and lay off 75% of Federal workers, including the SEC members, if he is elected.
Ramaswamy’s disagreement with the nation’s current anti-crypto policies and obscure strategies was evident in his stark criticism of the regulators, addressing them as “three-letter” entities. Describing the agency as an “unconstitutional fourth branch of government”, he poured insights into his future plans for regulating the bureaucratic intervention in the crypto markets. Referring to the SEC, he stated,
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.
The candidate’s optimistic approach to the crypto space has been widely appreciated by the crypto aspirants in the US, who have been battered by the rigid scrutiny of the regulators. Reports revealed that individuals and institutions were searching for crypto-friendly environments outside America.
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