Vivek Ramaswamy criticizes the SEC for trying to stop cryptocurrency growth.
The former presidential candidate calls for mass crypto deregulation to reduce the SEC workforce.
Vivek Ramaswamy, a biotech entrepreneur and former presidential nominee, made waves last year by calling for mass deregulation of the cryptocurrency industry. He was the first Republican candidate to introduce a detailed crypto plan, aiming to reduce the federal workforce, including the Securities and Exchange Commission (SEC).
Recently on Wednesday, Vivek Ramaswamy criticized the SEC’s “regulation by enforcement” under Gary Gensler, citing ambiguity around Ethereum’s status.
He said:
“Ambiguity is the friend of the tyrant,”.
Ramaswamy’s crypto plan proposed a drastic 75% reduction in the federal workforce. By cutting the SEC’s workforce, Ramaswamy believed it would allow for a free and more dynamic financial environment, especially for cryptocurrencies.
Also, Ramaswamy argued, that it
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