US presidential contender Vivek Ramaswamy discusses Bitcoin, claiming that it feels threatened and that he will bring it up at the Republican debate.
The Republican Party’s nominee for president of the United States in 2024, Vivek Ramaswamy, discussed Bitcoin in a recent interview with the What Bitcoin Did podcast.
In particular, Ramaswamy wanted to make it clear that, in his view, Bitcoin is now perceived as a danger by the US government, which is why it is unwilling to fully accept it.
Additionally, the US presidential candidate discusses several points of view on the matter, highlighting the following when addressing the viewpoint of common people:
“Those of us who are having this conversation believe that we, as individuals, create a government that’s accountable to us. The alternative worldview, to understand it, is that the state predates the individual. Your rights come from the government. They’re not independent of that and so this proposes a threat to the existence of that state. Then, it’s perfectly within the rights of the state to come after and prevent that from existing.”
According to the prospective US president, the issue is that everyone is aware of what Bitcoin is and what it entails, thus the government and politicians shouldn’t be persuaded to change their opinions on Bitcoin and cryptocurrencies. He claims that the government perceives the queen of crypto as a threat precisely because of this.
Bitcoin: US presidential candidate claims he will discuss it during the Republican debate
In his lecture, Ramaswamy discusses the Digital Asset Anti-Money Laundering Act bill, which was put out by Lindsey Graham, Joe Manchin, Roger Marshall, and Sen. Elizabeth Warren (D-Mass.).
This bill aims to close existing regulatory gaps and encourage more cryptocurrency companies to comply with AML/CFT laws.
It seems that nine US Congressmen have made up their minds to back the bill as of late September. Conversely, some view this bill as an outright assault on the privacy and personal autonomy of cryptocurrency users.
Once more, Ramaswamy describes an image of the US government that differs greatly from the beliefs of the general public.
Lastly, the presidential contender declared that he will bring up Bitcoin during the debates:
“I’ve already told the moderators in the republican party. This should be a topic we need to be talking about. If they don’t [bring bitcoin up], I will.”
Policy discussion about Blockchain and CBDC as well
Moreover, a separate political controversy over the Central Bank Digital Currency (or CBDC) emerged in September of last year alongside Bitcoin and its blockchain.
In actuality, Maxine Waters of the Democrats had discussed proposed blockchain and CBDC legislation. Republicans who embrace decentralization and cryptocurrencies, according to Waters, seem to be impeding central banks’ efforts to establish a US CBDC.
The relevant law, in that instance, was put out by Republican Tom Emmer, who favors anti-central bank control in digital currency. Emmer wants to specifically stop the state from publishing a financial monitoring tool that threatens the American way of life.
In response to Waters, Emmer also made the point that, while CBDCs are still subject to government oversight, supporting cryptocurrency and blockchain technology does not equate to supporting them as well.
Democrats, however, continued to paint the Republican plan as anti-innovation on CBDCs, pointing out that the US is “at a standstill” while 130 other states are pursuing similar legislation.
