Future U.S. President Won't Shut Down Tornado Cash

The future U.S. president, Vivek Ramaswami, has assured the public that his administration won't pursue software developers for creating code, signaling a supportive stance towards crucial digital tools like Tornado Cash. This move signifies a shift away from punitive measures against crypto wallet providers and similar platforms, recognizing their significance as crucial components of digital independence.

While acknowledging potential resistance from Congress, Ramaswami remains focused on fostering technological advancements rather than hindering their evolution. He emphasized plans to aid the development of essential technologies without unnecessary intervention.

Ramaswami's directive to the Federal Reserve to grant stablecoin issuers similar access to resources echoes a push for equality in accessing financial tools. However, analysts caution that the central bank historically operates independently, distancing itself from presidential influence. Despite legal constraints on direct presidential intervention, experts suggest Ramaswami's commitment to pursuing these ideas.

The President-elect previously announced plans to dismiss over half of the U.S. Securities and Exchange Commission (SEC) employees, advocating for a shift in the oversight of the cryptocurrency sector. He stressed the importance of creating a clear regulatory framework swiftly to govern this industry, signaling a proactive approach to addressing regulatory concerns.