US presidential candidate Robert F. Kennedy Jr. shared his disapproval of SEC’s enforcement motion in opposition to the crypto business and plans to incorporate crypto-friendly members on the board when elected president.
In an exclusive interview with TheStreet, Robert F. Kennedy Jr. (RFK Jr.), an aspiring US presidential candidate, criticized the Securities and Trade Fee (SEC) for taking an enforcement method to regulating the crypto business.
Kennedy mentioned such a heavy regulatory technique may considerably have an effect on the nation’s digital asset ecosystem. When elected as president, he plans to nominate SEC workers with a good view of digital belongings to make sure that the US stays a hub for crypto.
“I don’t need individuals on the SEC fee who’re anti-crypto,” Kennedy mentioned. “At most, they need to be impartial, and we should always have individuals on there who’re from the crypto group,” mentioned Kennedy.
US SEC No Longer Protects the Curiosity of the American Individuals
The presidential aspirant contrasted the present SEC system with the unique intentions of his grandfather, Joseph P. Kennedy Sr., who aimed to carry transparency and equity to the monetary system throughout his tenure as the primary SEC commissioner.
Kennedy mentioned the monetary regulator now not serves its authentic goal of defending the American individuals. As a substitute, he argued that it primarily safeguards the pursuits of banks, significantly central banks, quite than making certain transparency and equity for on a regular basis people.
“SEC’s perform now could be to not defend the American individuals, however to guard the banks – significantly the central banks and people pursuits. What they’re doing is obscure, it’s not clear, and it’s not bringing transparency to our system,” mentioned Kennedy.
Bitcoin Provides Individuals a Method Out
Chatting with TheStreet, Kennedy additionally shared his admiration for Bitcoin (BTC) and its worth proposition of belief and transparency within the face of turmoil comparable to inflation. Though he has not personally invested in Bitcoin, the US presidential aspirant recommended its underlying worth as a base forex.
He praised its finite provide and infinite divisibility, making it a great medium of trade. He mentioned the digital asset presents people an exit from conventional financial programs by having intrinsic worth and offering another possibility.
Kennedy additional said that no person may manipulate the crypto asset. In response to him, Bitcoin’s democratic nature, pushed by miners and non-manipulable algorithms, makes it a reliable digital forex.
“The Bitcoin that exists on the Earth is infinitely divisible, so it’s the right forex – it has an intrinsic worth and provides individuals a method out. And no person can manipulate it. There’s no human being that may manipulate it,” mentioned Kennedy.
The presidential aspirant declared his assist for the crypto asset final week throughout the Bitcoin 2023 convention in Miami, the place he publicly announced that his marketing campaign would settle for BTC donations. He additionally vowed to guard the digital asset in opposition to “invasive surveillance”.
