White House Aspirant Vivek Ramaswamy Makes Bold Promise On Crypto Policy Framework

Republican presidential candidate Vivek Ramaswamy made a bold promise to the cryptocurrency industry when he said that he plans to release a "comprehensive crypto policy framework" by Thanksgiving.

The presidential hopeful seeking the nomination of the Republicans was at the Messari Mainnet conference in New York on Wednesday to earn the interest of blockchain and crypto enthusiasts.

At the event, Ramaswamy shared his main campaign priority, which is to reduce the federal regulatory workforce. He also mentioned several key issues in the cryptocurrency industry, including "regulation by enforcement," and even brought up Gary Gensler, the current chairman of the U.S. Securities and Exchange Commission (SEC), and the latter's refusal in Congress to answer whether Ether is a security or not.

During a fireside chat with Ryan Selkis, the CEO of the data company Messari, Ramaswamy spoke about SEC rulings and the potential of blockchain technology to disrupt the world of traditional finance. He also shared plans to release a "comprehensive crypto policy framework" by Thanksgiving.

Serkis, who has seen the framework, said that it is currently "75% there."

Talking about the regulators, Ramaswamy said, "That is the cancer at the heart of our federal government today." He added, "Most of the political power is wielded by people who are never elected to their positions that sit in the back of three-letter government agency buildings in Washington DC in a three-letter regulatory alphabet soup."

The GOP candidate also said he has "relatively strong views on what the future of governmental interface with crypto should be," and called regulators an "unconstitutional fourth branch of government."

In the past, Ramaswamy made a strong claim when he said the White House hires private actors like BlackRock to execute policies that are challenged in the legislation, and added that these policies are usually labeled as Environmental, Social and Governance initiatives or ESG.

The Republican hopeful claimed that financial investment giants BlackRock, State Street and Vanguard "represent arguably the most powerful cartel in human history."

"They're the largest shareholders of nearly every major public company (even of each other) & they use *your* own money to foist ESG agendas onto corporate boards - voting for 'racial equity audits' & 'Scope 3 emissions caps' that don't advance your best financial interests," the presidential aspirant wrote in a post on X, formerly Twitter.

"This raises serious fiduciary, antitrust, and conflict-of-interest concerns. As President I will cut off the real hand that guides the ESG movement - not the invisible hand of the free market, but the invisible fist of government itself," he said.