Black_background_logo_BitcoinWorld-removebg-preview
Republican Presidential Debate Centers On Crypto Policies
Bitcoin News Latest News News

Republican Presidential Debate Centers On Crypto Policies

  • During the Republican debate in Alabama, crypto takes the center stage with bold proposals and heated discussions on regulation and digital currencies.

Crypto policies were discussed intensely at the Republican presidential debate which was held at Tuscaloosa, Alabama.  

A Presidential candidate, Vivek Ramaswamy, known for including crypto in his campaign,  discussed his crypto policy. He referenced the legal issues of Binance’s former CEO, Changpeng Zhao “CZ”, noting that there’s a need for regulations to be updated.

Ramaswamy mentioned the FTX scandal with Sam Bankman-Fried (SBF) blaming and criticizing the current framework for the collapse. 

See Also: The Price Of Dogecoin Drops After Elon Musk Denies xAI Fundraising

He proposed cutting the SEC workforce and reducing regulators’ grip on crypto. He also stated that cryptocurrencies should be seen as commodities and should not be under the SEC’s control. Ramaswamy also called out SEC Chair Gary Gensler for his unclear stance on Ethereum.

Robert F. Kennedy Jr., now an Independent, suggested making bitcoin exempt from capital gains tax and supporting the right to self-custody bitcoin. He stated his plans to include backing the dollar with assets like gold and bitcoin.

Another Candidate who is the current Governor of Florida, Ron DeSantis talked about Central Bank Digital Currencies (CBDCs), stating his stance against the digital currency,  “they would be dead on arrival if I get elected” he assured. 

DeSantis had previously signed a bill against CBDCs in Florida, although some experts believe this bill won’t stop anything.

During the debate, Ramaswamy made controversial claims about the Jan. 6 Capitol assault and the Democratic Party’s platform. His comments stirred up further discussion among the audience and other candidates.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.