Key Points
- On Wednesday, Republican contender for president Vivek Ramaswamy was questioned about the latest advancements. Ramaswamy announced his own cryptocurrency scheme in front of the Texas Blockchain Council last month.
Stay in the know on crypto by frequently visiting Crypto News Today
During Wednesday night’s Republican presidential debate, topics included central bank digital currencies, former FTX CEO Sam Bankman-Fried, Securities and Exchange Commission Chair Gary Gensler, and Binance, the largest cryptocurrency exchange in the world.
In front of the Texas Blockchain Council last month, Republican presidential candidate Vivek Ramaswamy announced his own cryptocurrency strategy. He was questioned about the latest advances in the industry.
“The head of the largest international crypto exchange just pleaded guilty to allowing his platform to launder money for terrorists, including Hamas,” said the moderator. “You claim that your cryptocurrency proposal will, in the words of the author, “guarantee economic independence for Americans.” Won’t it also provide terrorists, criminals, and scam artists economic freedom?”
In response, Ramaswamy stated that dishonest individuals have been con artists for a very long time.
According to Ramaswamy, “our regulations need to catch up with the current moment.” “The fact that SBF was able to do what he did at FTX shows that whatever they have in the current framework isn’t working.”
Advertisement
Follow GappyCoin PreSale on Twitter, and ReCap for information and more.
Weeks after former Binance CEO Changpeng Zhao entered a guilty plea to accusations of money laundering and violating sanctions, and months after former FTX CEO Sam Bankman-Fried was found guilty of criminal charges following a jury’s verdict that he had deceived investors, Ramaswamy made his remarks.
Over the past year, a few presidential hopefuls have mentioned cryptocurrency. Part of Ramaswamy’s approach, he said last month, would prevent self-hosted wallets from being regulated and allow for the “freedom to innovate without regulatory overreach.” In the meantime, Florida Governor Ron DeSantis, a Republican contender for president, outlawed the use of CBDCs in his state in May.
Gensler was chastised by Ramaswamy during the debate. The head of the SEC has consistently insisted that cryptocurrency exchanges register with his organization and that many cryptocurrencies are securities that must be governed by securities regulations.
Lawmakers have also questioned Gensler on whether ether in particular ought to be regarded as a security. During a House Financial Services Committee meeting, Patrick McHenry, the chair, made many attempts to get information from Gensler. Ramaswamy took issue with the debate’s back and forth on Wednesday.
“I think it’s nothing short of embarrassing that Gary Gensler, the current leader of the SEC, in front of Congress could not even say whether Ethereum counted as a regulated security or not,” Ramaswamy stated. “This is just another example of the administrative state gone too far.”
Debate about CBDC
On Wednesday, DeSantis brought up CBDCs, claiming that Joe Biden desires to violate people’s privacy.
DeSantis declared, “They will definitely regulate your purchases.” “We put the concept of a digital money issued by a central bank in the trash bin on our first day as president. When it arrives, it will be dead.”
CryptoCaster™ steadfastly upholds its dedication to keeping our global audience well-informed about the ongoing adoption of blockchain technology, as well as the latest hurdles emerging from government-controlled fiat financial systems, banking conglomerates, and other major institutional entities. Our commitment extends to providing comprehensive updates and insights into how these developments affect the broader landscape of digital currencies, the potential regulatory impacts on blockchain innovations, and the evolving dynamics between traditional financial institutions and emerging cryptocurrency markets. By staying at the forefront of these critical issues, CryptoCaster™ aims to empower our audience with the knowledge needed to navigate the complex interplay of technology, regulation, and finance in the modern world. 
If this article brought you clarity, insight, or value—support the work that made it possible.
At CryptoCaster, we report on Web3, crypto markets, and institutional finance with no billionaire owners, no shareholders, and no hidden agenda. While mainstream media bends toward Elon Musk, BlackRock, and JPMorgan narratives, we stay focused on what matters: truth, transparency, and the public interest.
We don’t just cover the headlines—we investigate the power structures behind them. From FTX and Ripple to the quiet push for CBDCs, we bring fearless reporting that isn’t filtered by corporate interests.
CryptoCaster is 100% paywall-free. Always has been. To keep it that way, we depend on readers like you.
If you believe independent crypto journalism matters, please contribute—starting at just $1 in Bitcoin or Ether. Wallet addresses are below.
Your support keeps us free, bold, and accountable to no one but you.
Thank you,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
