U.S. Independent Presidential candidate Robert F. Kennedy Jr highlighted the importance of safeguarding transactional freedom through cryptocurrency to foster economic growth.
Reflecting on Donald Trump’s shift in crypto policy, Kennedy Jr praised the updated stance and urged President Joe Biden to support innovation in America by backing crypto. “I’m not going to question if it was a political decision; I’m happy he did it, and I hope President Biden does too,” stated Kennedy Jr.
Kennedy Jr refrained from commenting on Trump’s conviction, leaving industry observers to speculate on how the court ruling could affect the pro-crypto Republican candidate.
The presidential candidate emphasized the need for more figures like SEC Chair Gary Gensler to acknowledge and promote decentralized currencies such as Bitcoin (BTC). He highlighted that these currencies provide a viable solution to the diluted monetary instruments currently dominating the U.S. capital ecosystem.
According to Kennedy Jr’s remarks at Consensus 2024, blockchain technology and cryptocurrencies have the potential to drive a democratized market economy. This would enable investors and individuals to control their wealth independently of government interference.
Path to Progress
Kennedy Jr emphasized that the government must ensure digital asset ownership, sovereign wallet control, and consumer protection from scams like FTX by establishing a clear regulatory framework for cryptocurrencies.
He also argued that crypto should be treated as currency and exempt from capital gains tax. According to Kennedy Jr, fair digital asset policies would allow people to “have a choice as to whether they can buy” these virtual currencies and use them for transactions.
Kennedy Jr’s speech reinforced comments from experts like CoinShares Chief Strategy Officer Meltem Demirors and A16z Crypto founder Chris Dixon, who suggested that the crypto voting block could play a significant role in this year’s presidential elections.
A poll revealed that over 44% of voters either own digital assets or consider blockchain policies when choosing between candidates.
Regardless of the outcome of the U.S. elections, the passage of crypto regulations this year remains uncertain. Congressman Tom Emmer informed Consensus attendees that an end-of-year Senate session might offer the best opportunity for enacting definitive digital asset rules before next year.
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