U.S. Crypto-Advocate Candidate Vivek Ramaswamy Halts Presidential Run

• Vivek Ramaswamy Halts his Republican Presidential Campaign
• Ramaswamy's Crypto Policies
• Ramaswamy's Stance on Crypto Regulations
• SEC's Handling of Cryptocurrency
• Ramaswamy's Crypto Assets

Vivek Ramaswamy Halts his Republican Presidential Campaign

Vivek Ramaswamy has decided to suspend his campaign for the Republican presidential nomination following a fourth-place finish in Iowa. During his concession speech, Ramaswamy voiced his support for former President Donald Trump, announcing that he will be appearing alongside Trump at an upcoming rally in New Hampshire.

Ramaswamy's Crypto Policies

Ramaswamy's campaign was marked by his ambitious crypto strategy which centered around protecting software developers and unhosted digital wallets. He also favored classifying most cryptocurrencies as commodities and aimed to significantly diminish the influence of the Securities and Exchange Commission (SEC) within the crypto sector.

Ramaswamy has previously criticized the lack of clarity from regulators. He pledged to repeal any regulations that unnecessarily target lawful activities, condemning the regulatory state for opposing certain practices on the grounds of personal bias.

Ramaswamy's Stance on Crypto Regulations

In a Republican leadership debate last December, Ramaswamy highlighted the need for regulations to keep pace with the rapidly evolving digital asset world. He criticized the current regulatory framework for being ineffective, citing the success of FTX$3.28 -5.38% as an example.

He further criticized Gary Gensler, the SEC chair, for failing to definitively state in front of Congress whether Ethereum$2,315 -2.42% is a regulated security. He referenced this uncertainty as evidence of the administrative state overreaching its boundaries.

SEC's Handling of Cryptocurrency

The SEC has so far refused to release unredacted versions of emails and notes that influenced William Hinman's pivotal 2018 speech at the Yahoo Markets Summit. During this speech, Hinman declared ether not a security, marking a significant development in cryptocurrency history.

Ramaswamy's Crypto Assets

An earlier disclosure revealed that Ramaswamy holds between $100,001-$250,000 worth of bitcoin (BTC) in a Coinbase (COIN) account. He also owns between $15,001 and $50,000 in ether.

Edited by Jonathan Stoker