Robert F. Kennedy Jr. Deliberates Challenges in Crypto Regulation in the United States
Renowned independent candidate for the U.S. presidency, Robert F. Kennedy Jr., took the stage at Consensus 2024 in Austin, Texas, on Thursday to address the topic of crypto regulation. In his speech, Kennedy emphasized the importance of ensuring that America remains at the forefront of blockchain technology. He pledged to regulate cryptocurrency in a manner that safeguards consumers from deceitful schemes.
Kennedy stressed the significance of “transactional freedom” and the need for sovereignty over personal wallets, transparent currencies, and the freedom to engage in transactions. He revealed that he had purchased twenty-one bitcoins since the commencement of his campaign, and he had also bought three coins for each of his children.
Before Kennedy began his speech, his opponent, Donald Trump, had received a guilty verdict on all 34 counts of falsifying business records. Commenting on this development, Kennedy chose to maintain a dignified approach. He expressed his intention to focus on broader issues of concern, such as economic and health matters, and refrained from discussing lawsuits involving Biden or Trump.
Kennedy’s opponent, Trump, has recently been vocal about cryptocurrencies, demonstrating his commitment to the industry. Kennedy welcomed this stance, considering it a positive step for the country. He believes that supporting crypto signifies a dedication to freedom and transparency, regardless of any potential political motivations behind the decision. Kennedy expressed hope that President Biden would also endorse such a commitment.
If elected, Kennedy intends to establish crypto as a transactional currency. Currently, crypto is treated as property for U.S. federal income tax purposes, subjecting it to capital gains and income tax. Kennedy advocates for its recognition as a currency and opposes its taxation as capital gains.
During his appearance at Consensus 2024, Kennedy discussed the reasons behind his presidential campaign. He revealed that he had contemplated entering politics in his younger years but had put the idea aside for two decades. However, witnessing the government’s response to the COVID-19 pandemic, including the shutdown of the economy and various infringements on personal rights, compelled him to take action. Kennedy perceived these actions as an attack on the constitution and observed the erosion of traditional values in his party and country. He felt a calling to demonstrate what America should truly represent and believed that he could fulfill a unique role in doing so.
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