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Trump Challenger Ramaswamy Pledges Crypto Policy — Blasts Regulators as ‘Cancer’

Published September 21, 2023 10:32 AM
James Morales
Published September 21, 2023 10:32 AM
Key Takeaways
  • Republican Presidential Candidate Vivek Ramaswamy intends to announce a crypto policy framework by Thanksgiving.
  • Throughout his campaign, Ramaswamy has often courted the US crypto sector.
  • During a recent event, he called agencies including the SEC “a cancer at the heart of our federal government.”

Among the contenders challenging Trump for the Republican presidential nomination, none have devoted as much of their attention to the country’s crypto sector as Vivek Ramaswamy. 

Since declaring his candidacy in February 2023, Ramaswamy has tried to depict himself as a crypto champion through frequent criticism of the American regulatory regime. 

In his latest tirade, the biotech entrepreneur has blasted regulatory agencies as a “cancer at the heart of our federal government,” and announced plans to deliver a crypto policy framework by Thanksgiving.

Crypto Has Been Central in Ramaswamy’s Campaign

In the early days of his presidential bid, Ramaswamy made a name for himself as a vocal cryptocurrency advocate. And in May, he joined Robert Kennedy as the second candidate in the current cycle to accept crypto campaign donations.

Throughout the summer, Ramaswamy attended crypto-focused events such as Bitcoin 2023 in Miami. He also frequently discussed the topic during his various media appearances.

For example, in an interview with CBS News , he said that if he were President, the “thriving Bitcoin universe,” would empower him to stabilize the dollar and reign in what he perceives as an overarching Federal Reserve.

However, as the campaign season has advanced, he has often incorporated his initial focus on the crypto sector into a broader ideological critique of US regulatory agencies and the administrative state.

In his latest explosive comments, Ramaswamy said he would fire 75%  of the federal workforce if he won the Presidency. He also vowed to disband government organizations including the Department of Education, the FBI and the Food and Nutrition Service.

Vivek Ramaswamy’s Courts US Crypto Sector

Returning to his campaign’s roots, on Wednesday, September 20, Ramaswamy attended the Messari Mainnet conference in New York.

During a conversation with Messari CEO Ryan Selkis, he echoed a common concern in the industry over the direction of the Securities and Exchange Commission (SEC) under Chairman Gary Gensler. Moreover, he noted that the Commission would be included in his planned slashing of government bodies.

In a broad indictment of US regulators, Ramaswamy accused “3 letter agencies,” of acting as an “unconstitutional fourth branch of government,” Axios reported .

“That is the cancer at the heart of our federal government today,” he said, adding that “most of the political power is wielded by people who are never elected to their positions.

Ultimately, Ramaswamy’s appearance at the event looks like his latest bid to win the support of crypto advocates ahead of the Republican primaries in January.

He appears to direct his statement that ‘ambiguity is the friend of the tyrant’ toward industry-wide criticism of the current regulatory uncertainty.

Addressing the perceived malaise faced by the US crypto sector Ramaswamy told the crowd that “the good news is this is something that a US president can fix,” 

He then promised to deliver a “comprehensive crypto policy framework” by Thanksgiving. Selkis added that he’d seen the framework, which he said was  “75% there.”

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