Presidential Candidate Vivek Ramaswamy Published His Crypto Manifest
by Oskar Trotman
The U.S. presidential elections are one year away, and candidates across both aisles of the political spectrum are vying for their party’s nomination by introducing voters to their objectives. One proponent of cryptocurrencies is potential Republican candidate Vivek Ramaswamy, who presented his crypto policy framework at the North American Blockchain Summit in Fort Worth, Texas.
Ramaswamy’s crypto manifesto is entitled “The Three Freedoms of Crypto” and outlines how the hopeful presidential candidate plans to tackle the future of cryptocurrencies. The document focuses on regulatory goals, such as exempting securities laws for a specific period. There is a commitment to prevent federal agencies from overstepping their mandate by implementing unconstitutional practices or regulations not sanctioned directly by Congress.
Vivek also pledges to prosecute criminal activities relating to crypto. However, at the same time, Ramaswamy believes that smart contract code developers should not be held responsible for the misuse of their code by other parties, as has been the case very frequently in the industry.
The Republican is also advocating the reduction of the federal workforce, especially targeting the Securities and Exchange Commission. Vivka plans to deregulate financial and investment regulations heavily.
Successful Entrepreneur With Political Ambitions
Although the presidential primary elections are nearing their final stage in both political campaigns and among smaller parties, Ramaswamy remains the only candidate to have made his crypto policies known. For Ramaswamy, cryptocurrency regulations should be done not by enforcement but by in-advance delineated rules.
Most other candidates except Robert Francis Kennedy Jr. have been either silent or vague about their policies for regulating cryptocurrencies. The independent presidential candidate Rober F. Kennedy Jr. plans to exclude Bitcoin from capital gains tax.
Ramaswamy descends from Indian immigrant parents and holds bachelor’s degrees in biology and law. Vivek has worked as an investment partner in a hedge fund and founded the pharmaceutical company Roivant Sciences. The 38-year-old investor’s net worth is $950 million. Aside from his stake in Roivant, Vivak owns shares in Rumble and MoonPay.
In 2021, Ramaswamy decided to take on a more active political role and stepped down as CEO of Roivant. Vivek is the author of “Woke, Inc.”, a book criticizing America’s increased focus on social justice issues and the environmental movement taking over Wall Street.
How Close Is Ramasamy to the White House
Judging by the latest Republican presidential primary polls, the biggest proponent of crypto in the U.S. political sphere is probably not going to enter the Oval Office. Ramaswamy is receiving between 0% and 8% of republican votes, and in the race for the New Hampshire primary, Vivak is moving between third or fourth place, depending on the poll. But he’s far behind candidates Donald Trump, Ron DeSantis, and Nikki Haley.
Ramaswamy accepts Bitcoin from his donors and plans to stay in the race until the primary election’s end. Although it’s safe to say that Ramaswamy is a long shot to win the Republican nomination, his campaign is boosting the relevance of cryptocurrencies and stimulating new debates in the media and political landscape.