U.S. presidential candidate Vivek Ramaswamy, in response to questions about the DOJ’s claims against the Bitcoin exchange Binance, criticised crypto regulation.
?@VivekGRamaswamy and @RonDeSantis talk crypto in the GOP primary debate pic.twitter.com/mQEPAmhfT5
— Taylor Barr (@taylorjbarr) December 7, 2023
\n‘Con artists, criminals and terrorists have long deceived people. Our regulation must keep pace with the times. The fact that Sam Bankman-Fried could do this with FTX confirms the inefficacy of current norms,’ he said.
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The politician also criticised the head of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, for his testimony before Congress, during which he failed to answer whether Ethereum is a security.
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\n‘This is another example of how the administrative state has gone too far,’ he added.
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If elected president, he intends to substantially cut the number of staff at the SEC and ease the regulation of digital assets.
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The other candidate in the race, Robert Francis Kennedy Jr. — Jr. promised to defend Bitcoin. In his words, transaction freedom is as important as freedom of speech.
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The politician also expressed scepticism towards CBDC. In his words, national digital currencies could become instruments of government control over individuals’ financial transactions. Earlier he repeatedly criticised CBDC.
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In June Kennedy promised to defend citizens’ right to unimpeded ownership and use of the first cryptocurrency. He said that in May purchased 14 BTC for his children as an investment. His candidacy was backed by former Twitter chief Jack Dorsey.
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In November, Ramswamy introduced the Three Freedoms of Crypto concept, which ‘guarantees a bright future for cryptocurrency and economic freedom for Americans’.
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Earlier, the US presidential candidate criticised the digital dollar and Treasury Secretary Janet Yellen for promoting CBDC.