Vivek Ramaswamy is in the process of formulating a “Crypto Policy Framework,” as announced during his appearance at Messari’s Mainnet crypto conference in New York. The Republican presidential candidate, currently ranking second in certain polls, outlined his intention to unveil this comprehensive crypto policy framework by Thanksgiving.
In a “fireside chat” with Messari CEO Ryan Selkis, Ramaswamy briefly discussed recent SEC rulings and the transformative potential of cryptocurrency in traditional finance. He expressed optimism about blockchain technology while strongly criticizing regulatory agencies with three-letter acronyms.
Selkis, after conducting a thorough review of the framework, wholeheartedly agreed with Ramaswamy’s evaluation that the framework is presently at a stage of completion that could be accurately described as “75% complete.”
Possible indication of a rightward shift in the cryptocurrency industry
Ramaswamy emphasized his firm beliefs regarding the future relationship between the government and cryptocurrency, particularly targeting what he described as an “unconstitutional fourth branch of government” represented by regulators. He expressed concern that much of the political power is concentrated within unelected individuals situated within three-letter government agencies in Washington DC.
Following Ramaswamy’s speech, Anthony Scaramucci, known for his brief role as Donald Trump’s communications director, made an appearance, highlighting the growing significance of cryptocurrency in American politics. Selkis noted the surprising nature of having a major presidential candidate speaking at a crypto conference, suggesting a shifting political landscape.
While Bitcoin’s origins are rooted in libertarian ideals, the cryptocurrency industry has generally avoided strict alignment with any specific side of the U.S. political spectrum. Ramaswamy’s explicit support for cryptocurrency may indicate a rightward shift in the industry.
Ramaswamy, previously a pharmaceutical entrepreneur, entered the 2024 presidential race, positioning himself as a tech-savvy successor to the populist MAGA movement associated with Donald Trump. He has taken positions further to the right than Trump on various issues, gaining attention through a notable debate performance in August. Notably, a CNN poll released on Wednesday positioned Ramaswamy as the second-ranking candidate in the nomination race, trailing only behind Donald Trump and surpassing Florida Governor Ron DeSantis, who was initially considered Trump’s primary competition.
Ramaswamy’s recent statements are in perfect harmony with his long-standing advocacy for cryptocurrency. His unwavering support for the crypto space was vividly demonstrated by his enthusiastic celebration of a recent court ruling against the SEC in its case with Grayscale. In a tweet last month, he lauded this decision as a significant victory for the blockchain industry and a triumph for cryptocurrency enthusiasts worldwide.
Ramaswamy’s Commitment to Cryptocurrency
Throughout his career, Ramaswamy has consistently championed the cause of digital currencies and blockchain technology. He has been a vocal advocate for their potential to revolutionize traditional finance, drive innovation, and empower individuals with financial sovereignty. His celebration of the court ruling was not just an isolated incident but rather a reflection of his enduring commitment to this cause.
Ramaswamy’s support for cryptocurrency goes beyond mere words. He has actively engaged with the crypto community, participating in conferences, seminars, and discussions to promote the understanding and adoption of blockchain technology. He has also been involved in initiatives aimed at fostering responsible and regulatory-compliant growth within the cryptocurrency ecosystem, emphasizing the importance of balancing innovation with the need for regulatory oversight.
