Vivek Ramaswamy, a Republican candidate for the presidential race, wants to confine regulators such that they can only enforce crypto policies when approved by Congress. He suggests treating most crypto assets as commodities and claiming that individuals should be able to store digital assets in non-custodial wallets outside regulators’ reach.Â
Ramaswamy underscores the disclosure of governmental classification by the public. He suggests that stablecoin issuers should have access to Federal Reserve facilities and does not support lawsuits against developers like Tornado Cash creators.
If appointed, Ramaswamy intends to reform the U.S. Securities and Exchange Commission by focusing on releasing staff constraints and limiting its engagement with the Crypto industry.
His position is representative of the view that many cryptocurrencies can be considered commodities and goes against the SEC as a possible obstacle to its development.
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