The 2024 US presidential election is in full swing and we need to educate ourselves, come together and vote for the best public official who will support crypto and free markets.
Now, a question was asked to presidential candidate Vivek Ramaswamy, and he did a great job answering it.
He is doing an incredible job calling out Securities and Exchange Commission (SEC) Chairman Gary Gensler and highlighting the need for crypto regulation.
He also pointed out that FTX and SBF are a major problem and that is why we need comprehensive regulation.
Vivek Ramaswamy slams Gensler
Ramaswamy made three important points. Number 1: SBF and FTX – and also coincides with point number 2: the SEC and Gary Gensler.
According to Ramaswamy, it is embarrassing that the securities chairman can sit before Congress and cannot answer a simple question of whether Ethereum is a security or not.
While Gary Gensler was Chairman of the SEC (and still is), Sam-Bankman Fried of FTX committed massive fraud and stole billions of dollars from his clients.
And remember, FTX wasn’t even an American company. They had FTX.US which got caught up in the crypto contagion, but the fact is that SBF met with Gensler multiple times and the securities chairman failed to do his job and protect the retailers.
What Gensler did was he sat down and met with SBF, didn’t institute any type of laws, couldn’t tell us what a crypto asset is, as far as a title, merchandise, etc., and simply sued instead. to create rules to keep retail safe, and also allow a very beautiful economy and technology to thrive in crypto.
The third point Ramaswamy makes is that America has people in power who don’t even run the country – so basically they voted for these people and asked other people like Gensler from the SEC to make decisions .
As for Ron DeSantis, he also touched on crypto, but he went more down the CBDC route. He is very anti-CBDC and he has stated that he would have a dead CBDC if he were put in power.
Crypto is here to stay – it’s going mainstream, we’re seeing penetration into society, pop culture, politics and much more.
Crypto is a valid item. Yes, it’s not one of the five most talked about issues in the debate, but it’s on the list. And many people are going to consider crypto-compatibility as part of the decisions they make when voting.
I think in the next presidential election we will see Democratic and Republican candidates present their ideas on crypto regulation.