Another pro-crypto presidential candidate suspends campaign for office

Pro-crypto presidential hopeful Vivek Ramaswamy has suspended his campaign for office on Jan. 16.

In a post on the social media platform X (formerly Twitter), Ramaswamy revealed he was suspending his campaign to support former President Donald Trump’s bid to return to the Oval Office, saying:

” I am suspending my campaign and endorsing Donald J. Trump and will do everything I can to make sure he is the next U.S. President.”

According to recent polling data, President Trump is the top GOP candidate for the Oval Office. Despite his previous anti-crypto rhetoric, the former president has introduced several non-fungible tokens (NFTs) projects whose value has been impacted by his actions.

Meanwhile, Ramaswamy is not the only pro-crypto candidate to suspend his campaign for office. In August last year, the Mayor of Miami, Francis Suarez, suspended his campaign for the Presidential seat.

Ramaswamy’s pro-crypto moves

Ramaswamy emerged as a notable figure in the crypto community during his campaign due to his pro-crypto tendencies.

Notably, he is a staunch critic of the U.S. Securities and Exchange Commission’s (SEC) regulation by enforcement approach. Ramaswamy contends that the actions of the SEC often exceed reasonable bounds, needing the court to act as the primary defender against these perceived rogue behavior.

Additionally, Ramaswamy unveiled a comprehensive crypto policy framework designed to reshape the country’s regulatory landscape. Central to his plan was the cessation of the SEC’s regulation by enforcement strategy, coupled with a commitment to safeguarding developers’ code as a form of expression under the protection of the First Amendment.

Ramaswamy argued that his crypto policy would not only pave the way for a dynamic future in the industry but also provide economic freedom for Americans seeking an alternative financial system.

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