Former 2024 Republican Presidential candidate Vivek Ramaswamy has called for clearer cryptocurrency regulations, criticizing the current regulatory approach as “anti-American at its core.” In an interview with Yahoo Finance on Wednesday, Ramaswamy expressed frustration with the lack of clarity and the “regulation by enforcement” strategy, which he argues creates an unfair environment for businesses.
“That’s not how this country is supposed to work,” Ramaswamy stated. He emphasized the need for clear regulations rather than the current ambiguous framework, arguing that ambiguity benefits only those who seek to exert undue control.
Ramaswamy also expressed his belief that former President Donald Trump would be a “friend” to the crypto industry if re-elected. In a separate appearance on the Market Domination Overtime show, Ramaswamy criticized the Federal Reserve’s dual mandate on unemployment and inflation, suggesting it often leads to unsustainable outcomes.
Ramaswamy’s Stance on Crypto Deregulation
Last year, Ramaswamy, who eventually withdrew from the presidential race, proposed a significant deregulation of the cryptocurrency industry. His plan included reducing the federal workforce by 75%, affecting agencies like the SEC. He argued for a substantial deregulation of financial and investment rules, criticizing the SEC as a “shadow government” that has attempted to stifle the growth of crypto since its inception. “That ends on my watch,” he declared.
Speculations on Kamala Harris and Crypto Policy
In recent remarks, Ramaswamy predicted that Vice President Kamala Harris might adopt more crypto-friendly rhetoric as she competes for votes in the 2024 presidential race. He suggested that a thoughtful digital asset policy from Harris could be beneficial for the country.
Ramaswamy’s comments reflect his ongoing commitment to advocating for clearer and more supportive regulations for the cryptocurrency industry.
