The SEC has only worsened crypto troubles in the US, which has been plagued by regulatory issues for years. With Argentina embracing a Pro-Crypto leader, can the United States follow suit in the 2024 presidential race?
Here’s what’s happening.
Vivek Ramaswamy is emerging as a strong advocate in the 2024 presidential race, fueled not just by a love for crypto technology, but by his frustration with what he calls the “administrative state.” According to Ramaswamy, this bureaucratic hurdle has stifled innovation, especially in emerging fields like crypto.
In a recent Republican debate, Ramaswamy didn’t pull punches, taking direct shots at SEC chair Gary Gensler and other regulators for their slow response to crypto. He found Gensler’s classification of Ether as a commodity “embarrassing.”
Asked about preventing fraud in the crypto world, Ramaswamy emphasized the urgent need for updated regulations. He pointed to recent cases involving figures from Binance and FTX, suggesting these events exposed flaws in the current regulatory frameworks.
Controversial claims
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.
Another player in the crypto discussion is Ron DeSantis, echoing Ramaswamy’s rejection of central bank digital currencies. He vowed to discard the concept of CBDCs on day one as president, considering it a non-starter. While DeSantis hasn’t detailed his crypto policy, his alignment with Ramaswamy against a U.S. central bank digital currency labels it a threat to American liberty.
In the broader political spectrum, Ramaswamy stands out as the only Republican candidate with a robust crypto policy. Meanwhile, former Democratic contender Robert F. Kennedy has also jumped on the crypto bandwagon, proposing to back the U.S. Dollar with Bitcoin if elected.
Beyond the race for the presidency, the crypto debate in the U.S. is heating up. Senator Elizabeth Warren is declaring an outright “war on crypto” in her re-election bid. As candidates vie for support, the prominence of crypto in national politics indicates a significant shift in policy discussions, promising an engaging journey ahead.
Read More About This: Senator Elizabeth Warren’s Anti-Crypto Agenda: What You Need to Know
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