Bold ideas and passionate arguments on regulation and digital currencies take center stage during the Republican debate in Alabama, as crypto takes center stage once again.
While in Tuscaloosa, Alabama, for the Republican presidential debate, crypto was a hot topic. Known for incorporating cryptocurrency into his campaign, Vivek Ramaswamy, a presidential contender, spoke about his cryptocurrency policies. Noting the need for revised rules, he brought up the legal difficulties involving Changpeng Zhao “CZ,” Binance’s former CEO.
Ramaswamy brought up the FTX incident involving Sam Bankman-Fried (SBF), who criticized and blamed the existing structure for the collapse. In an effort to loosen authorities’ hold over cryptocurrency, he suggested slashing the SEC’s personnel. Additionally, he said that the SEC should not regulate cryptocurrencies as they are commodities.
Now-Independent Robert F. Kennedy Jr. has advocated for the ability to self-custody bitcoin and proposed exempting it from capital gains tax. The use of gold and bitcoin as dollar backers was one of his declared goals.
Ron DeSantis, the current governor of Florida and another candidate, said, “They would be dead on arrival if I got elected” when asked about his position on central bank digital currencies (CBDCs). Even if some experts think this measure won’t stop anything, DeSantis has already signed a statute barring CBDCs in Florida.
Ramaswamy made several questionable assertions about the Democratic Party’s program and the attack on the Capitol on January 6 during the debate. Audience members and other contenders were prompted to rethink their positions by his remarks.
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