U.S. presidential candidate Vivek Ramaswamy would end Gary Gensler and his SEC regime if elected next year.
A radical plan
Speaking at crypto data company Messari’s annual conference as the headline guest, Vivek Ramaswamy spelt out what he would do were he to be elected in 2024 as the next President of the United States.
A mostly pro-crypto crowd heard the presidential hopeful state that he will implement his own crypto policy framework, which he is aiming to show publicly before Thanksgiving. Ryan Selkis, CEO of Messari, was interviewing Ramaswamy, and he made it known at the conference that he had seen the framework, confirming that it was about 75% complete.
As reported in an article in Fox Business, Ramaswamy also spoke of his plans to end the tenure of Gary Gensler as the chairman of the Securities and Exchange Commission (SEC), calling his time in the job a “reign of terror”. He also vowed to overhaul the SEC’s 4,500 staff members along with cutting the federal government workers by 75%.
Getting rid of agencies such as the FBI and departments like Education are also on his list of to-dos, making his potential presidency one of the most innovative and radical in the history of the United States.
Opinion
The ongoing attempts in Congress to come up with a feasible regulatory solution for crypto do not inspire confidence. There are many, many Congressmen, as well as Senators who just don’t understand even the basics of the cryptocurrency industry. Older members have only ever known the current monetary system, and the kind of change, innovations, and speed with which the crypto industry moves must be unsettling.
Staunch critics of crypto like Congressman Brad Sherman, Congresswoman Maxine Waters, and Senator Elizabeth Warren, appear to want to eradicate crypto entirely from the United States.
Their influence across both sides of the House is very dangerous for so many Congressmen, women and Senators who lack the basic understanding of the subject.
Add this to their almost zero knowledge of the global monetary system and an extremely scary future can be envisaged.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
