Independent US presidential candidate Robert F. Kennedy Jr. said freedom of trading through cryptocurrencies must be protected to ensure economic growth.
In response to Donald Trump’s U-turn on cryptocurrency policy, Kennedy Jr. praised the revamped view and implored President Joe Biden to join America’s innovation by supporting cryptocurrencies. “I wouldn’t question it if it was a political decision. I’m glad he did it and I hope President Biden did too,” the politician said.
Kennedy Jr. abstained from commenting on Trump’s conviction, as industry observers pondered what impact the court ruling would have on the Republican cryptocurrency-backed candidate.
The presidential candidate added that more figures like SEC Chairman Gary Gensler should recognize and promote decentralized currencies like Bitcoin (BTC), which offer a solution to the dilutive monetary instruments currently darkening the U.S. capital ecosystem.
Blockchain technology and cryptocurrencies can power a democratized market economy where investors and individuals control their wealth without government interference, according to Kennedy Jr’s comments at Consensus 2024.
the way forward
Kennedy Jr said the government should create a clear cryptocurrency regulatory framework to ensure digital asset ownership, sovereign wallet control and consumer protection from scams like FTX.
According to politicians, cryptocurrencies should also be treated as currencies and exempt from capital gains. Fair digital asset policies mean that people “choose whether or not they can purchase” these virtual currencies and use them to pay for their purchases.
Kennedy Jr’s speech reinforced comments from experts such as Coinshare’s Chief Strategy Officer Meltem Demirors and A16z Crypto founder Chris Dixon, who said the cryptocurrency voting bloc could be critical to this year’s presidential election.
The poll found that more than 44% of voters consider owning digital assets or blockchain policies when deciding on a candidate.
Regardless of the outcome of the US election, it is unclear whether cryptocurrency regulation will be passed this year. Representative Tom Emmer told Consensus attendees that the year-end Senate session could be the best opportunity to have definitive digital asset rules in place before next year.