WASHINGTON – In the race for the White House, presidential hopeful Vivek Ramaswamy has positioned himself as a proponent of cryptocurrency, using recent debates and public appearances to criticize the current regulatory approach for digital assets. During a GOP debate on Wednesday night, Ramaswamy defended Bitcoin’s value in promoting economic freedom and took aim at what he saw as bureaucratic constraints in the US financial system. . He cited the FTX scandal and Sam Bankman-Fried’s alleged crimes as examples of ineffective oversight by the Securities and Exchange Commission (SEC), recommending the “Three Freedoms of Money” policy. e” to promote innovation amid regulatory hurdles that are expected to continue through the 2024 election.
Ramaswamy’s stance on cryptocurrencies was presented in more detail ahead of an unspecified date at the Texas Blockchain Council, where he outlined a plan to protect self-hosted wallets from excessive regulation, emphasizing the importance of innovation in this field. His criticism extended to SEC Chairman Gary Gensler for providing unclear guidance on whether cryptocurrencies should be classified as securities, especially targeting evasive responses. by Gensler in an exchange with House Financial Services Committee Chairman Patrick McHenry.
Similarly, Florida Governor Ron DeSantis has spoken out against Central Bank Digital Currencies (CBDCs), citing privacy concerns. DeSantis has pledged to prevent CBDCs from gaining a foothold in the United States if elected president, reinforcing actions taken in early May when he banned CBDCs in Florida to avoid government overreach into transactions. private translation.
While Ramaswamy advocates for crypto freedom, JPMorgan CEO Jamie Dimon stands on the opposite side of the debate. Dimon suggested that he would eliminate cryptocurrencies entirely if he had the authority, citing the need to protect public welfare.
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