Presidential Candidate Vivek Ramaswamy Applauds Grayscale's SEC Victory, Advocates for Bitcoin and Blockchain Innovation in the US
Summary:
Presidential candidate Vivek Ramaswamy praises Grayscale's victory over the SEC and emphasizes the importance of keeping Bitcoin and blockchain innovation within the United States. He plans to revoke federal regulations and supports the crypto industry. Grayscale's court victory is seen as positive for Bitcoin and the likelihood of spot Bitcoin ETFs being approved increases.
Presidential candidate Vivek Ramaswamy praised Grayscale's recent success against the SEC, believing it will help keep Bitcoin and blockchain innovation within the United States. Ramaswamy criticized the "shadow" US government and blamed the "unlawful rogue behaviors" of government agencies like the SEC. He emphasized the importance of US courts as the last line of defense and expressed his desire to prevent such cases from reaching the courts in the first place. Ramaswamy stated that the decision strengthens the path for Bitcoin and blockchain innovation to stay in the US instead of going overseas. If elected, he plans to revoke federal regulations that do not pass the Supreme Court's test in the West Virginia vs. EPA case, potentially reducing the SEC's influence on the crypto industry. However, the application of the major questions doctrine to the crypto industry is currently being tested in US courts. Ramaswamy is one of three presidential candidates supporting the crypto industry, along with Robert Kennedy Jr. and Ron DeSantis. Elon Musk praised Ramaswamy's acceptance of Bitcoin and pro-crypto stance, considering him a promising candidate. Grayscale's court victory against the SEC was seen as a positive development for the cryptocurrency space, with BTC's price rising 7.3% before stabilizing. Analysts from Bloomberg also believe that this victory increases the chances of spot Bitcoin ETFs being approved by the end of 2023.
Published At
8/31/2023 4:14:17 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.