- Vivek Ramaswamy criticizes the SEC for trying to stop cryptocurrency growth.
- The former presidential candidate calls for mass crypto deregulation to reduce the SEC workforce.
Vivek Ramaswamy, a biotech entrepreneur and former presidential nominee, made waves last year by calling for mass deregulation of the cryptocurrency industry. He was the first Republican candidate to introduce a detailed crypto plan, aiming to reduce the federal workforce, including the Securities and Exchange Commission (SEC).
Recently on Wednesday, Vivek Ramaswamy criticized the SEC’s “regulation by enforcement” under Gary Gensler, citing ambiguity around Ethereum’s status.
He said:
“Ambiguity is the friend of the tyrant,”.
Ramaswamy’s crypto plan proposed a drastic 75% reduction in the federal workforce. By cutting the SEC’s workforce, Ramaswamy believed it would allow for a free and more dynamic financial environment, especially for cryptocurrencies.
Also, Ramaswamy argued, that it was necessary to stop what he called the “shadow government,” accusing the SEC of trying to stifle the growth of cryptocurrencies. He vowed that this crypto regulation would end under his leadership.
Despite dropping out of the presidential race, Ramaswamy’s views on crypto deregulation continue to resonate within certain parts of the political landscape, particularly among those who believe in less government intervention in the financial markets.
Ramaswamy Predicts Kamala Harris Could Adopt Crypto
Ramaswamy also commented on Vice President Kamala Harris and her potential stance on digital assets. Last month, he predicted that Harris might adopt crypto-friendly language to attract more voters. Speaking with CNBC, Ramaswamy suggested that Harris could introduce a thoughtful framework or policy regarding digital assets, which he believes would benefit the country.
Moreover, Ramaswamy’s prediction reflects the growing political interest in crypto regulation. More candidates and lawmakers have begun to recognize the importance of creating clear guidelines for digital assets. He welcomed the idea of Harris adopting a crypto-friendly stance, arguing that it could bring much-needed clarity to the industry.
Although Ramaswamy is no longer in the race, his ideas continue to influence the conversation around cryptocurrency regulation, highlighting the ongoing debate about the role of government oversight in the fast-growing digital asset sector.
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