The Republican presidential candidate, Vivek Ramaswamy, has praised Grayscale’s recent victory over the Securities and Exchange Commission (SEC), stating that it will help keep Bitcoin and blockchain innovation within the United States. Ramaswamy criticized the “unlawful rogue behaviors” of government agencies and emphasized the importance of U.S. courts as a defense against such actions. He pledged to rescind federal regulations that fail the Supreme Court’s test in the West Virginia vs. EPA case if elected, potentially limiting the SEC’s influence on the crypto industry. However, the applicability of the major questions doctrine to the crypto industry is currently being tested in U.S. courts. Ramaswamy is one of three presidential candidates who have shown support for the crypto industry, along with Robert Kennedy Jr. and Ron DeSantis. Tesla CEO Elon Musk has also praised Ramaswamy for his pro-crypto stance. Grayscale’s court victory has been seen as a positive development for the cryptocurrency space and increases the likelihood of spot Bitcoin ETFs being approved by the end of 2023.
