Presidential Candidate Ramaswamy Says Grayscale’s Win ‘Clears a Path to Keep BTC in the US’

The American entrepreneur Vivek Ramaswamy, who is one of the US Presidential nominees of the Republican Party, thinks Grayscale’s court victory against the SEC is positive news that could keep Bitcoin and blockchain innovation within the States rather than see it relocate abroad.

The 38-year-old businessman has presented himself as a proponent of the primary cryptocurrency and a critic of the possible launch of a central bank digital currency (CBDC) in America. 

Praising Grayscale’s Triumph

Ramaswamy is another individual who highlighted this week’s court decision that ruled that the SEC was wrong to refute Grayscale’s ambitions to convert its Bitcoin Trust into a spot BTC ETF. 

The US Presidential candidate described the lawsuit’s outcome as a development that “clears a path to keep Bitcoin and blockchain innovation in the US instead of overseas.” 

He also thinks the “shadow government” in Washington, DC, is “out of control,” whereas the federal courts “are our only remaining line of defense against the unlawful rogue behaviors of 3-letter government agencies.”

Vivek Ramaswamy
Vivek Ramaswamy, Source: Politico

Subsequently, Ramaswamy suggested that Grayscale’s discontent with the SEC should have never emerged as a tribunal battle, vowing to void federal regulations that “fail the Supreme Court’s test in West Virginia vs. EPA” should he win the Presidential elections. 

His comments came as a quote to Kathryn Haun’s tweet, which labeled the court decision a “nice win for crypto.” The CEO and Founder of Haun Ventures maintained that the SEC’s next step is to grant or deny Grayscale’s petition, with an appeal being off the cards. 

“In the event the SEC denies petition, they’ll need a much more compelling explanation than they provided originally,” she added.

Not the Only Presidential Nominee to be a BTC Fan

The approaching Presidential vote in the USA in 2024 has amassed well-known figures from America’s business field and such who have vast experience as politicians.

Apart from promising an improvement in the health sector, fighting inflation, and overall economic well-being for locals, some of the candidates have touched upon the crypto sector, displaying themselves as supporters of Bitcoin.

Ramaswamy and Ron DeSantis (Florida’s Governor) are examples among the Republicans who have shown their affection toward the leading digital asset and their dislike of the possible launch of a CBDC.

The nephew of former President John F. Kennedy – Robert F. Kennedy – stands in the same corner. However, he is part of the Democratic Party. 

The mayor of Miami – Francis Suarez – was arguably the keenest BTC advocate to compete in the elections. However, the man who made history as the first American politician to receive his salary in Bitcoin instead of fiat suspended his campaign earlier this week.

Featured Image Courtesy of Reuters


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