U.S. Republican Presidential candidate Vivek Ramaswamy said his crypto policy guarantees a “vibrant future” for the emerging industry “to ensure economic freedom for Americans seeking an alternative to centralized finance,” according to a Nov. 27 post on social media platform X (formerly Twitter).
Ramaswamy explained that U.S. taxpayers’ funds were used to bail out traditional financial institutions 15 years ago, resulting in an “arranged marriage between big banks [and] big government that has poisoned the proper functioning of capitalism.”
However, crypto has emerged as a counter to that “ignominy” and would be further strengthened with his policies. Earlier in the month, Ramaswamy released his “Three Freedoms of Crypto” policy detailing how the industry would benefit from a transparent regulatory environment allowing cryptocurrency projects to thrive.
Per Ramaswamy, the first pillar of the policy focuses on giving developers the “freedom to write and publish code.” The second pillar would allow Americans to be “financially self-reliant and independent.” The last pillar protects projects from the “regulatory overreach and uncertainty” that currently pervades the industry.
He concluded that these pillars will “unshackle American innovators from the administrative state that persecutes and stymies innovation.”
Since the race for the Oval Office began, Ramaswamy has emerged as one of the biggest supporters of the crypto industry, criticizing the regulation-by-enforcement approach adopted by federal agencies like the SEC. He promised to significantly reduce the workforce of these federal regulators if elected president.
More recently, he has reportedly expressed willingness to discuss Bitcoin at the upcoming Republican debate. According to recent polling data, the pharmaceutical entrepreneur continues to rank within the top four GOP candidates, securing 5% support in a field primarily led by former President Donald Trump.
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