US presidential hopeful Vivek Ramaswamy unveils crypto framework
Vivek Ramaswamy, a U.S. Republican presidential candidate, introduced a crypto policy framework designed to safeguard elements of the Web3 space, including non-custodial digital currency wallets. In a document titled “The Three Freedoms of Crypto,” Ramaswamy urged regulators to scale back a significant portion of SEC crypto rules. The proposed framework, unveiled at the recent North American Blockchain Summit in Fort Worth, Texas, outlines a “safe harbor” exemption policy for newly introduced cryptocurrencies. This exemption offers regulatory clarity, granting new cryptocurrencies protection from securities laws for a specified period after their launch, and prohibiting any federal agency from establishing rules that would restrict the utilization of self-hosted wallets (crypto wallets not controlled by centralized exchanges). Ramaswamy, known as the founder of Roivant Sciences, also criticized sanctions on Tornado Cash, pledging to prosecute bad actors rather...