Vivek Ramaswamy reposted the post below
Natalie Brunell ⚡️
@natbrunell
For those interested in reading @VivekGRamaswamy’s newly announced policy plan on #Bitcoin and digital assets:
“Policy Point #1: Freedom to Code – Developers shall enjoy the freedom to write and publish code.
Overview:
The First Amendment protects freedom of speech – and that extends to the digital world. Developers cannot be prosecuted for their code and their software cannot be suppressed, any more than journalists and their articles can be prosecuted or suppressed.
Policy
•I will direct government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code.
•I will support all legal challenges to existing cases, to bring further judicial clarity to the relationship between software and the First Amendment.
Policy Point #2: Freedom to Financial Self-Reliance – Users should enjoy the freedom to be financially self-reliant and independent.
Overview
Financial self-reliance is a key check against the concentration of powers, surveillance, and censorship in the financial system, in a tradition dating back to Jefferson and Jackson. Self-hosted wallets deliver this independence in the digital age, and must not be banned nor disadvantaged by regulation.
Policy
•I will prohibit any federal agency from creating rules that limit or impair self-hosted wallets.
•I will clarify that the Bank Secrecy Act does not bind on blockchain infrastructure providers and will overhaul its rules for crypto custodians.
Policy Point #3: Freedom from Regulatory Overreach – Projects should enjoy freedom from regulatory overreach and uncertainty.
Overview
Digital assets shouldn’t be subject to the “arbitrary and capricious” agendas of the SEC and the Federal Reserve. Despite little formal mandate from Congress, these agencies have made themselves the key gatekeeper for innovation, and deployed ambiguity and politicized hostility to suppress it. It is not the role of federal agencies to make qualitative judgments about the merit of an entire industry or technology.
Policy
•In keeping with the findings of West Virginia v. EPA, I will force crypto regulators to apply well-defined rules to precisely-defined jurisdictions, and apply those rules impartially and consistently.
•I will order the SEC and CFTC to create a process for new digital assets, where they enjoy a short period of safe harbor and then are programmatically classified into securities or commodities.
•I will order the Federal Reserve to grant stablecoin issuers the same access to Fed facilities that incumbent banks enjoy, so they can create safe and liquid products and further expand dollar hegemony.”
Share your thoughts below.
2023-11-16T16:36:27.000Z