Regulation
RFK Jr. Criticizes Biden’s Hostility Towards Cryptocurrencies, Pledges Support for Cryptocurrencies at Consensus 2024
TLDR
- Robert F. Kennedy Jr., a US presidential candidate, spoke at Consensus 2024 and expressed support for cryptocurrencies, emphasizing the need for freedom of transaction and transparency.
- Kennedy believes cryptocurrencies should be treated like a currency and exempt from capital gains tax, and plans to regulate cryptocurrencies to protect consumers from fraudulent schemes.
- He criticized the Biden administration’s “hostility” toward cryptocurrencies, arguing that US laws have pushed crypto companies overseas, and pledged to end this hostility if elected president.
- Kennedy refrained from commenting on Donald Trump’s recent condemnation, but praised Trump’s pro-crypto stance, hoping that President Biden would also support innovation in the crypto sector.
- The presidential candidate believes blockchain technology and cryptocurrencies can fuel a democratized market economy where individuals control their own wealth outside of government interference.
Robert F. Kennedy Jr., an American presidential candidate running as an independent, has expressed his strong support for cryptocurrencies during a press conference at Consensus 2024 in Austin, Texas.
Kennedy highlighted the importance of freedom of transaction and transparency, saying that a commitment to cryptocurrencies is a commitment to these values.
The presidential candidate criticized the current administration’s “hostility” toward cryptocurrencies, arguing that US laws have pushed crypto companies to seek more favorable regulatory environments in countries like Switzerland and Singapore.
If elected, Kennedy will work to end this hostility and ensure that America remains the hub of blockchain technology.
Kennedy believes that cryptocurrencies should be treated like a currency and exempt from capital gains tax. He plans to regulate the industry in a way that protects consumers from fraudulent schemes, while encouraging the growth of truly decentralized currencies.
The candidate also highlighted the need for individuals to have sovereignty over their wallets and the ability to choose whether to purchase and use digital currencies for everyday purchases.
When asked about Donald Trump’s recent pro-crypto stance, Kennedy praised the change in perspective, hoping that President Joe Biden would follow suit in supporting crypto innovation.
However, he refrained from commenting on Trump’s recent conviction on 34 counts of falsifying business records.
Kennedy’s vision for the future of cryptocurrencies includes a democratized market economy powered by blockchain technology, where individuals have control over their wealth without government interference.
He cited the Canadian government’s freeze of fiat and crypto assets during the “Freedom Convoy” protests as a reason for needing financial sovereignty.
The presidential candidate’s remarks at Consensus 2024 echo the sentiments of industry experts who believe that cryptocurrency voting blocking could play a crucial role in the upcoming presidential election.
A recent poll found that more than 44% of voters own digital assets or consider blockchain policies when deciding between candidates.