US Presidential Hopeful Vivek Ramaswamy Criticizes SEC Over Crypto Regulatory Failures
US Republican presidential candidate Vivek Ramaswamy has slammed the Securities and Exchange Commission (SEC) criticizing the current crypto regulatory framework.
During the fourth Republican presidential debate at the University of Tuscaloosa on Wednesday, Ramasamy expressed his advocacy for cryptocurrencies.
He responded to a question from Eliana Johnson of Washington Free Beacon regarding the recent guilty plea of Changpeng “CZ” Zhao, the former Binance CEO. CZ succumbed to legal pressures in a case involving anti-money laundering (AML) regulations.
“Fraudsters, criminals, and terrorists have been defrauding people for a long time,” Ramaswamy said.
“Our regulations need to catch up with the current moment. The fact that SBF was able to do what he did FTX shows that whatever they have is the current framework isn’t working.”
SEC Chair Gary Gensler also got mentioned during the debate for his failure to classify Ethereum before Congress.
“I think it is nothing short of embarrassing that Gary Gensler, the current leader of the SEC, in front of Congress could not even say whether Ethereum counted as a regulated security or not,” Ramaswamy criticized. “I think that this is just another example of the administrative state gone too far.”
During the event, Florida Governor Ron DeSantis voiced his strong opposition to Central Bank Digital Currency (CBDC).
WATCH: Ron DeSantis warns about the danger of a Central Back Digital Currency (CBDC) #GOPdebate pic.twitter.com/8W6WLLk6E1
— Never Back Down (@NvrBackDown24) December 7, 2023
DeSantis framed Biden’s support for a CBDC as a direct threat to financial and personal freedom including privacy and unregulated purchasing power.
“They want to get rid of cash crypto, they want to force you to do
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