In the Republican presidential debate held in Tuscaloosa, Alabama on Wednesday night, when presidential candidate Vivek Ramaswamy was asked about his cryptocurrency policy, he said: "Scammers, criminals and terrorists have been deceiving people for a long time, and our regulations need to keep up with the current situation. In fact, what SBF has done on FTX shows that the current framework is not working."

Ramaswamy said: "Even the chairman of the US SEC, Gary Gensler, cannot confirm in front of Congress whether Ethereum is a regulated security, which is embarrassing. This is another example of the administrative state going too far." (CoinDesk)