Republican Presidential Debate Centers On Crypto Policies

• During the Republican debate in Alabama, crypto takes the center stage with bold proposals and heated discussions on regulation and digital currencies.

Crypto policies were discussed intensely at the Republican presidential debate which was held at Tuscaloosa, Alabama.  

A Presidential candidate, Vivek Ramaswamy, known for including crypto in his campaign,  discussed his crypto policy. He referenced the legal issues of Binance’s former CEO, Changpeng Zhao “CZ”, noting that there’s a need for regulations to be updated.

Ramaswamy mentioned the FTX scandal with Sam Bankman-Fried (SBF) blaming and criticizing the current framework for the collapse. 

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He proposed cutting the SEC workforce and reducing regulators’ grip on crypto. He also stated that cryptocurrencies should be seen as commodities and should not be under the SEC’s control. Ramaswamy also called out SEC Chair Gary Gensler for his unclear stance on Ethereum.

Robert F. Kennedy Jr., now an Independent, suggested making bitcoin exempt from capital gains tax and supporting the right to self-custody bitcoin. He stated his plans to include backing the dollar with assets like gold and bitcoin.

Another Candidate who is the current Governor of Florida, Ron DeSantis talked about Central Bank Digital Currencies (CBDCs), stating his stance against the digital currency,  “they would be dead on arrival if I get elected” he assured. 

DeSantis had previously signed a bill against CBDCs in Florida, although some experts believe this bill won’t stop anything.

During the debate, Ramaswamy made controversial claims about the Jan. 6 Capitol assault and the Democratic Party’s platform. His comments stirred up further discussion among the audience and other candidates.