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Vivek Ramaswamy unveils crypto policy platform criticizing mixer sanctions

Press Releases Crypto News Cointelegraph Vivek Ramaswamy unveils crypto policy platform criticizing mixer sanctions

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.

Called “The Three Freedoms of Crypto,” the framework states that developers of smart contract code should not be held liable for the actions of people who use the code.

In the document, Ramaswamy vows to “direct government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code,” if elected president. In an accompanying speech, Ramaswamy specifically targeted sanctions against crypto mixer Tornado Cash, stating, “The case brought against the Tornado Cash folks, for example. […] You can’t go after the developers of code.”

In the document, Ramaswamy also promises to provide regulatory clarity that gives new cryptocurrencies “safe harbor” 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.

LIVE ON @X — Unveiling my Three Freedoms of Crypto policy from the stage of the North American Blockchain Summit. @txblockchain_ https://t.co/0szwPNAfuj

— Vivek Ramaswamy (@VivekGRamaswamy) November 16, 2023

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’ crypto. This effectively obscures the identity of the person receiving the funds.

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 o

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Author: Tom Blackstone

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