Vivek Ramaswamy, a Republican presidential candidate, has expressed optimism about Bitcoin’s prospects and views Grayscale’s recent victory as a promising indicator for cryptocurrency innovation in the United States. Ramaswamy criticized regulators, such as the Securities and Exchange Commission (SEC), describing them as a shadow government and claiming they were out of control.Grayscale achieved a significant legal victory against the SEC, which had refused to approve the conversion of its Bitcoin Trust into an ETF. The Court deemed the regulator’s decision arbitrary and capricious, mandating a thorough review of the crypto investment company’s application.Ramaswamy noted that the matter should not have gotten to Court in the first place and blamed this on the regulation-by-enforcement approach of the SEC. If elected, he promised to rescind most federal regulations for not meeting the Supreme Court test in West Virginia v EPA.Ramaswamy’s statement echoes the sentiments of numerous stakeholders critical of the SEC’s crypto regulatory stance. Additionally, it underscores how the burgeoning crypto industry has become a prominent topic in the run-up to the 2024 elections.Ramaswamy is renowned for supporting the burgeoning crypto industry and previously asserted that Thomas Jefferson would likely be engaged in Bitcoin mining if he were alive today. He also criticized the U.S. government for considering a digital version of the dollar, arguing that the currency “will be stronger if we protect it from digitization.”Support for Bitcoin is not only among Republicans as Democratic candidates like Robert Kennedy Jr. have spoken in support of Bitcoin, and recent filings show that his family holds the asset.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Robert Kennedy Jr., Vivek Ramaswamy |
| Companies | West Virginia v EPA, Grayscale, Supreme Court, U.S. Government, SEC (Securities and Exchange Commission) |
| Currencies | Ethereum, US Dollar, Bitcoin |
| Securities | None |
