US Presidential Election Campaign: Flurry Of Pro-Crypto Reforms

19 May 2023

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Crypto Market News: United States Presidential Candidate Robert F. Kennedy Jr. once again made encouraging comments towards mainstream use of Bitcoin and cryptocurrencies in the country. He made the comments as part of the pro-crypto stance in his US presidential campaign against President Joe Biden. The candidate’s crypto stance is a welcome development for the crypto market ahead of the 2024 US presidential election. Already, a consensus has been formed among the US electorate that the debate around crypto regulation in the country would be crucial in the lead up to the election.

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The debate in election campaigns stems out of a hard stance taken by the current US administration against crypto businesses operating in the country. In recent times, criticism against the U.S. Securities and Exchange Commission (SEC) reached new heights over a series of anti crypto enforcement actions despite calls for a comprehensive regulatory framework.

Robert F. Kennedy Jr Promises Pro-Crypto Environment

Speaking at an event as part of his campaign, Kennedy raised the issue around the need for a free and fair crypto environment in the country. He also condemned the US administration’s plans to tax 30% on the electricity used for crypto mining.

“Everybody is so passionate about Bitcoin, not just because it’s a currency but because it’s an exercise of democracy. When I am President I am going to make sure you (everyone) has goth their own wallet and the government can’t interfere with it.”

Overall, the presidential candidate pressed the need for having a conducive web 3.0 environment. He said there will not be a 30% tax on electricity used for crypto mining if he is elected President. There will not be any breach of online privacy and intrusive measures, he added, stating that the US can nurture this product (Bitcoin) at home in America. He expressed optimism about creating a crypto friendly infrastructure and creating wealth for Americans.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at anvesh@coingape.com.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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