Another presidential candidate who supports cryptocurrency suspends his campaign for public office

Crypto presidential candidate Vivek Ramaswamy suspended his campaign on January 16.

In a post on social media platform Proverb:

“I am suspending my campaign, supporting Donald J. Trump, and will do everything in my power to ensure that he becomes the next President of the United States.”

According to recent polling data, President Trump is the top Republican candidate for the Oval Office. Despite his previous anti-cryptocurrency rhetoric, the former president introduced several non-fungible token (NFT) projects whose value has been affected by his actions.

Meanwhile, Ramaswamy is not the only cryptocurrency-backed candidate to suspend his campaign for public office. Last August, Miami Mayor Francis Suarez suspended his presidential bid.

Ramaswamy’s Cryptocurrency Advocacy Movement

Ramaswamy emerged as a notable figure in the cryptocurrency community during the campaign due to his cryptocurrency advocacy.

In particular, he harshly criticizes the U.S. Securities and Exchange Commission’s (SEC) regulation of enforcement methods. Ramaswamy argues that the SEC’s actions often exceed the bounds of reasonableness and that the courts should serve as the primary defender against such bad faith actions.

Ramaswamy also unveiled a comprehensive cryptocurrency policy framework designed to reshape the country’s regulatory environment. The core of his plan was a commitment to stop the SEC’s regulation by enforcement strategy and to protect developer code as a form of expression under First Amendment protections.

Ramaswamy argued that his cryptocurrency policy will not only pave the way for a dynamic future for the industry, but also provide economic freedom for Americans seeking alternative financial systems.

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