- Ramaswamy, a 2024 Republican presidential candidate, unveiled a pro-crypto policy plan at a blockchain summit, criticizing sanctions against crypto mixer Tornado Cash.
- Ramaswamy vowed not to prosecute developers for illegal uses of their code by others, calling code a protected form of speech.
- Ramaswamy promised regulatory clarity for new cryptocurrencies, exempting them from securities laws temporarily after launch.
Vivek Ramaswamy, a Republican candidate in the 2024 U.S. presidential election, recently unveiled a new crypto policy framework at a blockchain summit. The framework, titled “The Three Freedoms of Crypto,” makes several promises related to crypto regulation if Ramaswamy is elected.
Ramaswamy Vows Not to Prosecute Developers for Users’ Actions
The first key component of Ramaswamy’s crypto plan is a promise to avoid prosecuting developers of smart contract code for illegal uses of that code by others. Ramaswamy argues that code is a form of free speech protected under the First Amendment.
He specifically criticized the sanctions against crypto mixer Tornado Cash, stating that the developers themselves should not have been targeted. Ramaswamy vowed to instead prosecute individual bad actors who use code illegally.
Safe Harbor Proposed for New Cryptocurrencies
Ramaswamy also promised to provide new cryptocurrencies with a temporary safe harbor exemption from securities laws after launch. This regulatory clarity would give innovators more freedom to develop new crypto assets.
No Limits on Self-Hosted Wallets Under Ramaswamy
Finally, Ramaswamy said he would prevent any federal agency from restricting the use of self-hosted crypto wallets under his administration. This policy would protect users’ ability to control their own private keys.
Ramaswamy Rising in Early 2024 Polls
While still early in the 2024 race, Ramaswamy is polling in third or fourth place in some New Hampshire Republican primary surveys. He has carved out a unique policy platform within the GOP field with his pro-crypto promises.
Ramaswamy’s crypto plan offers insight into how a Republican administration could approach cryptocurrency regulation in 2024 and beyond. With promises to protect developer rights, provide regulatory clarity, and preserve financial privacy, Ramaswamy is positioning himself as a pro-innovation voice in the looming policy battles over digital assets.