Republican U.S. presidential candidate Vivek Ramaswamy has introduced a crypto policy framework called "The Three Freedoms of Crypto." The framework emphasizes that developers of smart contract code should not be held liable for users' actions and promises to direct government prosecutors to target bad actors, not the code or its developers. Ramaswamy specifically mentioned the case against Tornado Cash, a crypto mixer, and argued that sanctions against mixers violate the First Amendment, asserting that code is a form of speech protected by the Constitution.


Republican U.S. presidential candidate Vivek Ramaswamy has presented a crypto policy framework titled "The Three Freedoms of Crypto." The framework advocates that developers of smart contract code should not be held responsible for users' actions. Ramaswamy pledges to direct government prosecutors to target bad actors rather than the code or its developers if he is elected president. In his speech, he specifically referenced sanctions against Tornado Cash, a crypto mixer, arguing that such sanctions violate the First Amendment and asserting that code is a form of speech protected by the Constitution.


The Three Freedoms of Crypto framework includes the following key points:

  1. Developers of smart contract code should not be held liable for the actions of individuals using the code.

  2. Provide regulatory clarity to offer new cryptocurrencies "safe harbor" exemptions from securities laws for a defined period after launch.

  3. Prevent any federal agency from creating rules that restrict the use of self-hosted wallets.


Ramaswamy's framework aims to address legal challenges and concerns related to crypto code and developers, particularly in cases where sanctions are imposed on projects like Tornado Cash. By emphasizing the protection of code as a form of speech under the First Amendment, the framework aims to establish a regulatory framework that promotes innovation while holding bad actors accountable for unlawful activities within the crypto space.


(TOM BLACKSTONE, COINTELEGRAPH, 2023)