Republican presidential candidate Vivek Ramaswamy joins CoinDesk TV to discuss his crypto policy framework, along with his thoughts on the current state of crypto regulation in the U.S. Ramaswamy weighs in on whether the Howey Test, which helps determine if a crypto asset is a commodity or a security, is the right tool to be using.
My view is that most forms of Cryptocurrency should be in the category of commodities, not securities. They fail the test of what securities were all about in the first place, but whatever the rules of the road are, they deserve to be clear. And my litmus test of whether or not they're clear is if the head of the SEC or the commissioners of the SEC cannot instantly answer whether or not some widely used Cryptocurrency or Coin Council Security or a commodity. That means the rules that we have right now are a failure.