The Republican front-runner for president, Vivek Ramaswamy, wants to restrict regulators so they may only impose crypto regulations with congressional approval. He contends that people ought to be allowed to keep digital assets in non-custodial wallets out of the reach of regulators and recommends treating the majority of cryptocurrency assets like commodities.
Ramaswamy emphasizes the public’s revelation of official classification. He opposes legal action taken against developers such as the ones who created Tornado Cash and believes that stablecoin issuers need to have access to Federal Reserve facilities.
If chosen, Ramaswamy plans to overhaul the Securities and Exchange Commission of the United States by concentrating on removing staff restrictions and reducing the agency’s involvement with the cryptocurrency sector.
His stance defies the SEC as a potential roadblock to the growth of cryptocurrencies and is indicative of the belief that many of them can be viewed as commodities.
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