Web 3.0 and Blockchain Innovation
Vivek Ramaswamy, a United States presidential candidate, has praised Grayscale’s recent success against the federal securities regulator, claiming that the decision will help to keep Bitcoin and blockchain-based innovation in the country.
The Republican hopeful posted his views on X (formerly Twitter), taking aim at the “shadow” U.S. government and the “unlawful rogue behaviors” of “3-letter government agencies” – likely referring to the Securities and Exchange Commission. Ramaswamy went on to say that the courts had to serve as the final line of defense to protect cryptocurrency innovators, when it shouldn’t have come to that in the first place.
Ramaswamy concluded his post by saying that the decision “clears a path to keep Bitcoin & blockchain innovation in the U.S. instead of overseas”, a sentiment that could prove beneficial for the development of Web 3.0 and the Metaverse.
Web 3.0 and the Crypto Industry
Ramaswamy, a presidential candidate, has promised to repeal all federal regulations that fail the Supreme Court’s test in the West Virginia vs. EPA case, which could potentially limit the SEC’s authority over the crypto industry if it is determined that crypto falls under the major questions doctrine.
The application of this doctrine to crypto tokens is currently being tested in U.S. courts; while several amicus briefs were filed in support of Coinbase making the same argument, a recent court hearing in the Terraform Labs case ruled that the doctrine does not apply due to the lack of economic significance.
Ramaswamy, Robert Kennedy Jr., and Ron DeSantis are the three remaining presidential candidates who have shown support for the crypto industry. Tesla CEO Elon Musk recently praised Ramaswamy for his acceptance of Bitcoin and pro-crypto advocacy, calling him a “very promising candidate.”
Web 3.0, Blockchain, and AI Writing
In late May, the presidential candidate began accepting Bitcoin as a form of campaign donations. This was celebrated by the cryptocurrency space as a major victory when Grayscale Investments won a court case against the SEC on Aug. 29. This event caused BTC’s price to increase 7.3% to $27,940 before cooling off to $27,200 at the time of writing, according to CoinGecko. Analysts from Bloomberg noted that Grayscale’s win increases the likelihood of spot Bitcoin ETFs being approved by the end of 2023.
The rise of Web 3.0 and the Metaverse has been accompanied by the development of AI writing technologies, such as Tesla AI and X AI. To understand the implications of blockchain for Web 3.0, it is important to understand the differences between Web 1.0, Web 2.0, and Web 3.0, as well as the differences between the Metaverse and Web 3.0. There are various resources available to learn about blockchain fundamentals for Web 3.0 and blockchain and Web 3.0 in PDF format.
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