Presidential Hopefuls Ramaswamy and DeSantis Eye Crypto Regulation Reform


Vivek Ramaswamy is putting crypto at the forefront of his campaign for the White House, using recent debates and public appearances to criticize the current regulatory approach to digital assets. In a GOP debate on Wednesday, he argued that cryptocurrencies foster economic freedom and called out the ineffectiveness of the SEC in dealing with the FTX scandal and Sam Bankman-Fried’s alleged crimes. Ramaswamy proposed his “Three Freedoms of Crypto” policy, which he further detailed in a speech at the Texas Blockchain Council. He called out SEC Chair Gary Gensler for not providing clear guidance on whether cryptocurrencies should be classified as securities.

Meanwhile, Florida Governor Ron DeSantis has voiced his opposition to Central Bank Digital Currencies (CBDCs). He has even taken action in May to ban them in the state. This is in order to prevent government overreach into private transactions.

In stark contrast, JPMorgan CEO Jamie Dimon has expressed the desire to eliminate cryptocurrencies entirely, citing the need to protect the public.

The current debate around cryptocurrency regulations is sure to continue past the 2024 election. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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