The post Crypto Chaos in the 2024 Elections: Ramaswamy Leads a Revolutionary Charge appeared first on Coinpedia Fintech News
The SEC has only worsened crypto troubles in the US, which has been plagued by regulatory issues for years. After Argentina got its Pro-Crypto President can the US also alter its fate? In the high-stakes arena of the 2024 presidential race, Vivek Ramaswamy has emerged as a fiery advocate for the crypto realm. Unlike some candidates who champion crypto from a deep love of the technology, Ramaswamy’s fervor stems from his disdain for what he terms the “administrative state,” which he believes has hampered innovation, especially in burgeoning industries like crypto.
Vivek Ramaswamy’s Crypto Advocacy in 2024 Race
During a recent Republican debate, Ramaswamy didn’t hold back, taking a jab at SEC chair Gary Gensler and other regulatory bodies for their lag in understanding and regulating the crypto space. He mocked Gensler’s analysis to recognize Ether as a commodity, labeling it “nothing short of embarrassing.”
When grilled about preventing fraud in the crypto world, Ramaswamy fired back, highlighting the urgent need for updated regulations that align with the fast-evolving landscape. He pointed to recent cases involving industry figures like Binance’s CZ and actions by players at FTX, suggesting these events highlighted the glaring flaws in the current regulatory frameworks.
But it wasn’t just crypto talk that grabbed attention. Ramaswamy shook things up by boldly claiming the Capitol riots were an “inside job” and tying the controversial great replacement theory to the Democratic Party’s platform – a move that sparked both intrigue and controversy.
CBDC Opposition Finds Its Way in Republic Debate
Joining the crypto conversation, fellow candidate Ron De Santis echoed Ramaswamy’s rejection of central bank digital currencies. His rallying cry was clear: on day one as president, he’d throw the concept of CBDCs straight into the trash, dead on arrival. While DeSantis hasn’t detailed his potential crypto policy if elected president, he aligns with Ramaswamy in opposing a U.S. central bank digital currency, labeling it a menace to American liberty.
In the broader political spectrum, Ramaswamy’s unapologetic support for crypto sets him apart. He stands as the lone Republican candidate to unveil a robust crypto policy framework, while former Democratic contender Robert F. Kennedy has also jumped on the crypto bandwagon, proposing to back the U.S. Dollar with Bitcoin if elected.
Crypto’s Rising Role in U.S. Politics
Beyond the race for the presidency, the intensifying debate around crypto in the U.S. is palpable, with Senator Elizabeth Warren declaring an outright “war on crypto” as part of her re-election bid. As these candidates jostle for support, crypto’s prominence in national politics continues to soar, signaling a seismic shift in policy discussions.