Vivek Ramaswamy, the GOP presidential hopeful, wants to gain support from the cryptocurrency community by introducing new rules and regulations in Washington, D.C., though the specific details of these policies are yet-to-be-defined.
In a talk at the Messari Mainnet event in New York, Ramaswamy mentioned that if he becomes president, he intends to establish a thorough set of rules and guidelines for the cryptocurrency industry.
Ramaswamy has relatively strong views on what the future of the governmental interface with crypto should be and calls the regulators the unconstitutional fourth branch of government.
Ramaswamy said, “We’re about 75% of the way there. One of the reasons I wanted to be here and a couple of other forums like this … we want to get feedback before this is finalized.”
Ramaswamy said that he and his team are actively searching for input from the community regarding “serious, thoughtful proposals” that tackle issues that other presidential candidates, politicians, and current regulatory bodies might have missed.
People can anticipate getting an idea of his crypto policy in the next few weeks, with a full understanding of it expected by Thanksgiving in late November.
While he didn’t provide specific details about how he plans to shape cryptocurrency policy in Washington, he did mention that he intends to significantly reduce the size of the federal bureaucracy by as much as two-thirds if he becomes elected.
Vivek Ramaswamy said, “One of my chief issues with agencies like the FDA, and the SEC, is this regulation via enforcement paradigm, where they refuse to pre-specify what the rules actually are, but demonstrate what the rules are by picking who the bad apples are after the fact.”
According to a recent poll conducted by The Wall Street Journal, Ramaswamy has moved up to the fourth spot among Republican voters who want him to be their choice for president.
He has gathered the support of 5% of these GOP voters. Additionally, he is the second-choice candidate for 16% of Republican voters, with only Florida Governor Ron DeSantis ahead of him in this regard.