Presidential hopeful Vivek Ramaswamy criticized SEC chair Gary Gensler and other regulatory agencies during the recent Republican presidential debate, accusing them of failing to keep up with the crypto industry. Ramaswamy specifically highlighted Gensler’s inability to acknowledge that Ethereum’s native currency, Ether (ETH), should be considered a commodity.
When asked about preventing fraud in the crypto space, Ramaswamy emphasized the need for updated regulations that align with the current landscape. He pointed out that recent events, such as the actions of Binance CEO Changpeng “CZ” Zhao and the Capitol riots, demonstrate the inadequacy of the existing regulatory framework.
Another pro-crypto candidate, Ron De Santis, voiced his opposition to the implementation of a central bank digital currency (CBDC). He warned that such a currency would lead to increased regulation and the elimination of cash and other cryptocurrencies. De Santis pledged to reject CBDCs if elected president.
Ramaswamy is one of the few presidential candidates who have made crypto a central focus of their campaigns. He has unveiled a comprehensive crypto policy framework, distinguishing himself as the only Republican candidate to do so. On the Democratic side, Robert F. Kennedy has also emphasized crypto, even proposing to back the U.S. Dollar with Bitcoin if elected.
Outside of the presidential race, crypto has become a contentious issue in the United States. Democratic Senator Elizabeth Warren has declared a “war on crypto” as part of her senate re-election campaign, reflecting the growing concerns and debates surrounding the industry.
Overall, the Republican presidential debate highlighted the need for updated regulations in the crypto space and showcased the differing stances of candidates on issues such as CBDCs and the integration of cryptocurrencies into the financial system.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Vivek Ramaswamy, Changpeng Zhao, Ron De Santis, Robert F. Kennedy, Gary Gensler |
| Companies | Democratic Party, Ethereum, SEC, Binance, FTX |
| Currencies | Ethereum |
| Securities | None |
