Vivek Ramaswamy
@VivekGRamaswamy
Digital assets shouldn’t be subject to the arbitrary & capricious regulatory whims of the SEC & the Federal Reserve. Despite little formal mandate from Congress, these agencies have made themselves key gatekeepers for innovation & leverage ambiguity to suppress it. It is not the role of federl the merit of an entire industry or technology.
- Consistent with West Virginia v. EPA, require regulators to restrict themselves to precise statutory provisions & apply subsequent rules within constitutional confines.
- Create a process across the SEC & CFTC for new digital assets, where they enjoy a short period of safe harbor & then are programmatically classified into securities or commodities.
- The Federal Reserve should grant stablecoin issuers the same access to Fed facilities that incumbent banks enjoy so they can create safe & liquid products & further expand dollar hegemony.