US presidential candidate Vivek Ramaswamy has criticized the Securities and Exchange Commission (SEC) for its failure to effectively regulate cryptocurrencies. During a Republican presidential debate, Ramaswamy expressed his support for cryptocurrencies and highlighted the recent guilty plea of former Binance CEO Changpeng Zhao in a case involving anti-money laundering regulations. He argued that the current regulatory framework is inadequate and that the SEC needs to catch up with the current moment. Ramaswamy also criticized SEC Chair Gary Gensler for his inability to classify Ethereum as a regulated security. Additionally, Florida Governor Ron DeSantis voiced his opposition to Central Bank Digital Currency (CBDC), describing it as a threat to financial and personal freedom. DeSantis criticized the Biden administration's stance on Bitcoin and other cryptocurrencies and vowed to reject the idea of a CBDC if elected president. Ramaswamy has made cryptocurrencies a key part of his campaign, releasing a plan to reduce the SEC's control and government involvement in the crypto space. The crypto market has responded positively to pro-crypto politicians, with Bitcoin reaching over $41,000 for the first time in over a year and a half.
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