{"id":25160,"date":"2023-11-17T00:31:10","date_gmt":"2023-11-17T00:31:10","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/vivek-ramaswamy-unveils-crypto-policy-platform-criticizing-mixer-sanctions\/"},"modified":"2023-11-17T00:31:13","modified_gmt":"2023-11-17T00:31:13","slug":"vivek-ramaswamy-unveils-crypto-policy-platform-criticizing-mixer-sanctions","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/vivek-ramaswamy-unveils-crypto-policy-platform-criticizing-mixer-sanctions\/","title":{"rendered":"Vivek Ramaswamy unveils crypto policy platform criticizing mixer sanctions"},"content":{"rendered":"

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Republican United States Presidential candidate Vivek Ramaswamy unveiled a crypto policy framework on Nov. 16 at the North American Blockchain Summit (NABS) in Fort Worth, Texas. <\/p>\n

Called \u201cThe Three Freedoms of Crypto,\u201d the framework states that developers of smart contract code should not be held liable for the actions of people who use the code.<\/p>\n

In the document, Ramaswamy vows to \u201cdirect government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code,\u201d if elected president. In an accompanying speech, Ramaswamy specifically targeted sanctions against crypto mixer Tornado Cash, stating, \u201cThe case brought against the Tornado Cash folks, for example. [\u2026] You can\u2019t go after the developers of code.\u201d<\/p>\n

In the document, Ramaswamy also promises to provide regulatory clarity that gives new cryptocurrencies \u201csafe harbor\u201d exemptions from securities laws for a period of time after they are launched and to prevent any federal agency from creating rules that limit the use of self-hosted wallets.<\/p>\n

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LIVE ON @X<\/a> \u2014 Unveiling my Three Freedoms of Crypto policy from the stage of the North American Blockchain Summit. @txblockchain_<\/a> https:\/\/t.co\/0szwPNAfuj<\/p>\n

\u2014 Vivek Ramaswamy (@VivekGRamaswamy) November 16, 2023<\/a><\/p><\/blockquote>\n

Tornado Cash and other crypto mixers allow users to deposit crypto and have it sent to a different address than the one they deposit with. But in the process, it is mixed with other users\u2019 crypto. This effectively obscures the identity of the person receiving the funds. <\/p>\n

In August 2022, Tornado Cash was sanctioned by the U.S. government on the grounds that it was being used to facilitate money laundering. Critics of this decision have long argued that sanctioning Tornado Cash was a violation of freedom of speech, as it applied to the code itself rather than a person or group of persons operating an enterprise.<\/p>\n

In his speech, Ramaswamy agreed with the critics, claiming that sanctions against mixers violate the First Amendment to the U.S. Constitution, stating:<\/p>\n

\u201cI 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\u2019t 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.\u201d<\/p><\/blockquote>\n

Related: <\/strong>Vivek Ramaswamy: Grayscale win \u2018clears a path\u2019 for Bitcoin innovation<\/strong><\/em><\/p>\n

According to RealClearPolitics, the latest Republican presidential primary polls for New Hampshire show Ramaswamy in third or fourth place, behind Donald Trump, Nikki Haley and possibly Ron DeSantis, depending on which poll is consulted. He is currently getting between 0% and 8% of the Republican vote, according to these Nov. 16 polls. Ramaswamy announced on May 21 that he would accept Bitcoin (BTC) campaign donations.<\/p>\n<\/div>\n