Vivek Ramaswamy Calls for Clarity in crypto Regulations
Former 2024 US Republican Presidential candidate Vivek Ramaswamy has emphasized the urgent need for clear crypto regulations. He expressed dissatisfaction with the current regulatory approach, labeling it as fundamentally "anti-American."
In a recent interview with Yahoo Finance, Ramaswamy highlighted the lack of clarity surrounding crypto regulation. He criticized the prevailing strategy of "regulation by enforcement," which he believes has created an unfair playing field for businesses.
"This is not how our country should operate," Ramaswamy remarked during the interview. He stressed the importance of greater clarity and transparency in regulation, asserting that ambiguity only serves to empower authoritarian measures.
Ramaswamy also suggested that if former US President Donald Trump were to be reelected, he would be supportive of the crypto industry, positioning himself as a crypto-friendly ally.
During an appearance on the Market Domination Overtime show, Ramaswamy raised concerns about the Federal Reserve's dual mandate on unemployment and inflation, arguing that it often leads to unsustainable outcomes on both fronts.
Vivek Ramaswamy's Vision for Deregulating the Cryptocurrency Industry
Vivek Ramaswamy made headlines last year when, as a Presidential nominee (later dropping out), he advocated for extensive deregulation of the cryptocurrency industry. He became the first Republican candidate at the time to unveil a comprehensive crypto plan.
His proposed crypto plan called for a drastic 75% reduction in the federal workforce, including significant cuts to the Securities and Exchange Commission (SEC). Ramaswamy prioritized deregulation of financial and investment regulations as part of his overarching agenda.
While the plan primarily targeted roles involved in overseeing crypto regulation, its implications extended to the SEC's ability to regulate financial markets more broadly.
Ramaswamy did not mince words when criticizing the SEC, accusing the securities regulator of attempting to stifle the growth of crypto from its inception. He vowed to put an end to what he referred to as the "shadow government's" suppression of crypto under his leadership.
Recently, Ramaswamy predicted that current Vice President and 2024 Presidential hopeful Kamala Harris might adopt a more crypto-friendly stance to appeal to voters.
According to Ramaswamy, Harris's potential shift towards embracing digital assets could be a positive development for the nation, provided she offers a well-thought-out framework or policy for the crypto industry.
