Based on Kennedy, backing the greenback with Bitcoin would assist stabilize the economic system. Kennedy has additionally spoken in opposition to anti-Bitcoin legal guidelines.
Robert F. Kennedy Jr. introduced he would again the US greenback with Bitcoin (BTC) if he wins the subsequent election and turns into the president of the USA. The Democratic candidate spoke at Wednesday’s Heal-the-Divide PAC occasion, expressing his opinion on balancing the American economic system.
Kennedy believes “laborious property”, together with Bitcoin, would assist. The presidential aspirant says the plan could be to begin slowly, backing 1% of all issued Treasury payments utilizing Bitcoin, platinum, silver, or gold.
“Backing {dollars} and US debt obligations with laborious property might assist restore energy again to the greenback, rein in inflation and usher in a brand new period of American monetary stability, peace and prosperity.”
As a part of his plans for Bitcoin when he turns into president, Kennedy additionally stated he would create tax exemptions for Bitcoin. The aspirant stated all Bitcoin conversions to the US greenback wouldn’t be liable to capital positive factors taxes. He believes doing this is able to encourage buyers to maintain their investments and associated companies within the US as an alternative of transferring them to crypto-friendly international locations like Switzerland.
Kennedy Accepts Bitcoin
Robert Kennedy’s declaration of official assist for Bitcoin and associated tax exemptions ties into his earlier feedback about his marketing campaign. On the Bitcoin 2023 convention in Miami, the presidential candidate introduced to attendees that he’s open to receiving Bitcoin donations.
Kennedy spoke on the convention, saying that Bitcoin has a particular hyperlink to democracy and freedom, and touted the king coin’s energy, sturdiness, and adaptability. The candidate possible attended the convention to enchantment to the crypto group and is now saying pro-Bitcoin rules to tug the group nearer.
In a Twitter thread posted on Could 3, Kennedy criticized the US authorities for its anti-crypto place. Based on Kennedy, as a result of Bitcoin and digital property are a “main innovation engine”, the federal government’s place will “hobble the trade and drive innovation elsewhere”.
Kennedy Tackles Anti-Crypto Stance
Moreover, Kennedy particularly tackled the sooner proposed 30% tax on crypto mining, which was later suspended. Though Kennedy admits that Bitcoin mining presents vitality issues, he believes the vitality use is perhaps “considerably overstated”. The presidential candidate additionally added that it’s unfair to stifle the crypto sector over vitality use as a result of “bitcoin mining makes use of about the identical as video video games”. He believes the actual motive for going after crypto is as a result of it “threatens elite energy constructions”.
Along with vitality issues, Kennedy defended Bitcoin and cryptocurrencies in opposition to arguments about felony use. Whereas conceding that criminals could use crypto to defend illicit transactions, he argued that abnormal residents and dissidents additionally need privateness. Crypto makes it tough for the federal government to punish dissidents by freezing their financial institution accounts and different fee platforms.
In a Could interview, Kennedy additionally criticized the USA Securities and Alternate Fee (SEC) for going after the crypto trade. He stated the SEC now protects banks and not serves its authentic function of safeguarding Individuals. He then added that the SEC ought to solely include impartial and pro-crypto folks, and shouldn’t have anti-crypto officers as members.
Tolu is a cryptocurrency and blockchain fanatic based mostly in Lagos. He likes to demystify crypto tales to the naked fundamentals in order that anybody wherever can perceive with out an excessive amount of background information.
When he is not neck-deep in crypto tales, Tolu enjoys music, likes to sing and is an avid film lover.
