Ramaswamy’s Crypto Deregulation Plan Is Scaring the Industry – Bloomberg

Ramaswamy — who is polling in the single digits — is unlikely to become the 2024 Republican presidential nominee, but he has echoed many policy positions of frontrunner Donald Trump, teeing himself up for a potential high-profile spot in a GOP administration that could have significant sway over crypto.

Ramaswamy’s proposal would eliminate many of the few crypto regulations in effect and cut the SEC and other regulatory agencies’ workforces by 75%. That has raised alarms in the industry, particularly given its proximity to the criminal conviction of Sam Bankman-Fried following the implosion of his trading platform FTX and guilty pleas announced Tuesday from crypto exchange Binance Holdings Ltd. and its founder, Changpeng Zhao, on anti-money laundering and US sanctions violations charges.

Source: Ramaswamy’s Crypto Deregulation Plan Is Scaring the Industry – Bloomberg