Vivek Ramaswamy Slams US Sanctions of Crypto Mixers
- Republican presidential candidate Vivek Ramaswamy introduced the crypto policy framework on Nov. 16.
- The American entrepreneur’s “The Three Freedoms of Crypto” comes in support of blockchain developers.
- He argued that smart contract coders shouldn’t face punishment for the wrongdoings of the code’s users.
- Ramaswamy also noted that crypto mixers are protected by the US Constitution’s First Amendment.
Vivek Ramaswamy, an American entrepreneur and presidential candidate for the 2024 United States elections, has slammed the treatment of crypto mixers by the Joe Biden administration. The Republican candidate is a huge supporter of Bitcoin and other digital assets and unveiled a crypto policy framework on November 16 at the North American Blockchain Summit (NABS) in Fort Worth, Texas.
The new policy, titled “The Three Freedoms of Crypto,” states that the developers of the smart contract code should not be punished for the crimes committed by those who use the smart contract code. Vivek Ramaswamy added that cryptocurrency mixers are protected by the US Constitution’s First Amendment.
“I believe that code is a form of speech and is protected by the First Amendment. So, when you take an example, like the case brought against the Tornado Cash folks, for example, put aside the specifics of whether what was done is right or wrong. You can’t go after the developers of code. What you actually need to implement is going after individual bad actors that are breaking the laws that already exist on the books,” he said.
Vivek Ramaswamy promised to “direct government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code,” while adding that if he becomes the president of the US, he will provide regulatory clarity by giving new digital assets “safe harbor” exemptions from the securities laws for a period of time after their debut and to prevent any federal agency from creating rules that limit the use of self-hosted wallets.
The Republican also criticized the recent sanctions against crypto mixer Tornado Cash noting, “the case brought against the Tornado Cash folks, for example. […] You can’t go after the developers of code.” It is crucial to note that US prosecutors arrested the co-founders of Tornado Cash, Roman Storm, and Roman Semenov in August. The two were charged with breaking sanctions and laundering hundreds of millions of dollars for the Lazarus Group, a North Korean hacking group.
As reported earlier by Bitnation, Elon Musk, the founder and CEO of Tesla and SpaceX, praised Vivek Ramaswamy, adding, “He is a very promising candidate.”