Independent US presidential candidate Robert F. Kennedy Jr. said that freedom of transactions through cryptocurrencies must be protected to ensure economic growth.
Commenting on Donald Trump's U-turn on cryptocurrency policy, Kennedy Jr. praised the new vision and implored President Joe Biden to stand up for innovation in America by supporting cryptocurrencies. “I'm not going to question whether this was a political decision. I'm glad he did it and I hope President Biden does it too,” the politician said.
Kennedy Jr. declined to comment on Trump's conviction, as industry observers pondered how the court's ruling might impact the pro-crypto Republican candidate.
The presidential candidate added that more figures like SEC Chairman Gary Gensler should recognize and encourage decentralized currencies like Bitcoin (BTC), which offer a solution to diluted monetary instruments currently overwhelming the US capital ecosystem.
Blockchain technology and cryptocurrencies can support a democratic market economy where investors and individuals control their wealth outside of government interference, Kennedy Jr. comments at the 2024 Consensus.
The way forward
Kennedy Jr. opined that the government must ensure ownership of digital assets, control sovereign wallets, and protect consumers from scams like FTX by creating a clear regulatory framework for cryptocurrencies.
According to the politician, cryptocurrencies should also be treated as currency and exempt from capital gains. Fair digital asset policies mean that people “have a choice about whether they can purchase” these virtual currencies and use them to settle purchases.
Kennedy Jr.'s speech reinforced statements from experts like Coinshare Chief Strategy Officer Meltem Demirors and A16z Crypto Founder Chris Dixon, who said the crypto voting bloc could be crucial in this year's presidential election.
A poll showed that more than 44% of voters either own digital assets or take blockchain policies into consideration when choosing between candidates.
Regardless of the outcome of the US elections, it is uncertain whether cryptocurrency regulations will be passed this year. Congressman Tom Emmer unanimously told attendees that the Senate session at the end of the year may be the best opportunity to establish crucial rules for digital assets before next year.