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Charles Hoskinson, the founder of Cardano, has expressed support for Vivek Ramaswamy’s “Crypto Bill of Rights,” a groundbreaking proposal in the cryptocurrency realm. Ramaswamy, a recent U.S. presidential contender, suggests a transformative approach to crypto regulation. His key proposition, as summarized by MetaLawMan, a crypto lawyer, is that crypto policies should be explicitly enacted by Congress, not regulators.
Ramaswamy advocates for most cryptocurrencies to be classified as commodities and emphasizes transparency in government token classifications. He champions the public’s right to self-custody digital assets, keeping them out of regulators’ reach. Additionally, he argues for stablecoin issuers to have access to Federal Reserve facilities, akin to banks.
Ramaswamy’s bold stance includes a plan to restructure the SEC, which he views as a barrier to the crypto industry’s growth. Despite suspending his campaign after a fourth-place finish in the Republican primaries, he continues to be a vocal proponent for the crypto sector, aligning with Donald Trump to present his vision for America’s future, with a special focus on cryptocurrency.
