Presidential hopeful Vivek Ramaswamy is hoping to woo the crypto community with yet-to-be-defined policy intended to shift the regulatory needle in Washington, D.C.
During a fireside chat at the Messari Mainnet event in New York on Wednesday, Ramaswamy said he plans to implement a “comprehensive crypto policy framework” should he be elected to the country’s highest office.
“We’re about 75% of the way there,” Ramaswamy said. “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.”
A semblance of what his crypto policy will look like is expected in the coming weeks with a complete picture expected by Thanksgiving in late November.
Ramaswamy said that he and his team are actively seeking input from the community on “serious, thoughtful proposals” that address gaps overlooked by other presidential contenders, politicians and current regulatory bodies.
While no specifics on how he intends to shape crypto policy on The Hill were provided, Ramaswamy said he intends to gut the federal bureaucracy by up to two-thirds should he be elected.
“The problem with agencies like US Federal Reserve, or the SEC, is when you have a bunch of people showing up to work should have never had that job in the first place,” he said.
The SEC, under Chair Gary Gensler, has long been criticized for its stance against the industry, which some view as an aggressive regulation by enforcement approach, rather than constructive debate over how the asset class should be governed.
“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,” he said.
The 38-year-old Republican stands as one of the youngest individuals to ever vie for the US presidency, a distinction made even more notable given that the front-runners from both major parties are poised to become the oldest nominees in American history.
In a recent poll by The Wall Street Journal, Ramaswamy has ascended to the fourth position, capturing the support of 5% of GOP voters who want him for president. He also holds the distinction of being the second choice for 16% of the GOP electorate, trailing only Florida Governor Ron DeSantis
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