Vivek Ramaswamy: Grayscale win ‘clears a path’ for Bitcoin innovation

cointelegraph.com:

United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas.

In an Aug. 30 post on X (formerly Twitter) the pro-Bitcoin Republican candidate took shot at a “shadow” U.S. government, pointing the blame towards the “unlawful rogue behaviors of “3-letter government agencies” — presumably the Securities and Exchange Commission.

Ramaswamy said this has led to the U.S. courts to serve as a last line of defense to help keep cryptocurrency innovators in the country, adding that it shouldn’t have reached the courts in the first place.

“This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S. instead of overseas,” Ramaswamy explained.

The shadow government in D.C. is out of control & the federal courts are our *only* remaining line of defense against the unlawful rogue behaviors of 3-letter government agencies. This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S.… https://t.co/FsykKyQEVG

Ramaswamy added that if elected, he would rescind all federal regulations that fail the Supreme Court’s test in the West Virginia vs. EPA case — a move that could potentially limit the SEC's overreach on the industry, depending if crypto qualifies as falling under the major questions doctrine.

However, the question as to whether the doctrine applies to the crypto industry is currently being tested in U.S. courts. While several amicus briefs were filed in support of Coinbase making the same argument, a recent court hearing in the Terraform Labs case ruled the doctrine doesn't apply to crypto tokens because its economic