Cardano (ADA) founder supports Ramaswamy’s “Crypto Bill of Rights” but Ramaswamy quit presidential election race

On Jan 16, 2024

Charles Hoskinson showed open support to Vivek Ramaswamy for his crypto-friendly bill, which aims to protect the crypto investors as well as provide legal clarity to the nature of Crypto assets in the US jurisdiction.

Vivek Ramaswamy is a popular American entrepreneur & businessman. He is mainly known for Roivant Sciences, a pharmaceutical company founded by him in 2014. In the first quarter of last year, Vivek declared his candidacy for the Republican Party nomination in the 2024 United States presidential election.

Last year he openly declared that he would accept Bitcoin donations for his presidential campaign funding and also said that he would give preference to Bitcoin & crypto-friendly rules & laws in the US jurisdiction if he was elected as president.

In Q4 2023, Vivek proposed the “Crypto Bill of Rights”. Through the bill, he aimed to regulate the crypto sector under the jurisdiction of the US with clear rules & laws and also categorise the crypto assets into commodity & security assets so that companies can easily provide services without facing any big legal difficulties.

On 14 Jan 2024, A Crypto X (formerly Twitter) user, who is also a law expert, shared his views on Vivek’s proposed crypto bill and said that the bill is ok for this innovative sector.

Doing some due diligence this morning on @VivekGRamaswamy's positions on crypto.

Vivek says, under his administration:

-regulators will only enforce crypto policies explicitly adopted by Congress

-most crypto assets should be classified as commodities

– everyone has the right…
— MetaLawMan (@MetaLawMan) January 14, 2024

On 15 Jan 2024, Charles Hoskinson, the founder of Cardano (ADA) blockchain, shared his opinion and showed his full support for Bill & Vivek.

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That's clear and awesome https://t.co/c4R2ta6jKg
— Charles Hoskinson (@IOHK_Charles) January 14, 2024

It is expected that Hoskinson will talk about Vivek’s pro-crypto bill in the next AMA video session this weekend via his personal YouTube channel “Charles Hoskinson”.

But it is very unfortunate to know that just a couple of hours ago (from the time of writing this article) Vivek Ramaswamy announced that he will no longer be part of the US presidential election race.

He said “As, of this moment, we are going to suspend this presidential campaign”.

Live from Des Moines, IA | Vivek 2024 Caucus Night Press Conference https://t.co/ykH9wRlSKL
— Vivek Ramaswamy (@VivekGRamaswamy) January 16, 2024

As per reports, the top US presidential candidates are not fans of cryptocurrencies or Bitcoin but still, the majority of the people are expecting that America will welcome a crypto-friendly president in 2024.