The Future President of The USA Expresses Concerns About Government Attacks on Bitcoin

Presidential candidate for the United States, Robert F. Kennedy Jr., expressed concerns regarding the government's plan to release the central bank digital currency (CBDC).

The Future President Of The Usa Expresses Concerns About Government Attacks On Bitcoin_65b964a203b82.jpeg

He pointed out that CBDC is designed to become a tool of government power and control, while also voicing apprehension about attacks on Bitcoin and the cryptocurrency ecosystem.

In his perspective, Bitcoin could be seen as an “independent digital currency” free from government control. He emphasized that the freedom to transact is as important as freedom of speech. Speaking to Bitcoin Magazine, he mentioned his concerns that CBDC would ultimately be used as a pretext to phase out physical cash and would be tightly controlled, restricting people’s ability to use it freely, as the government would program CBDC in a specific manner.

“I oppose CBDC. I believe they will become tools of power and control,” stated Kennedy Jr. In July 2023, Kennedy Jr. made headlines by revealing that he had purchased 2 Bitcoins for each of his 7 children. He is well-known for supporting cryptocurrencies as a potential tool to help the impoverished break free from poverty and has proposed several legal initiatives to encourage the use of Bitcoin.

the future president of the usa expresses concerns about government attacks on bitcoin 65b964a206c10

The Threat to the US Dollar

Kennedy Jr. expressed uncertainty about the future of the US Dollar amidst the exponential growth of the BRICS group. The presidential candidate explained that although the group doesn’t have its own reserve currency, member countries allow transactions in local currencies, posing a threat to the US Dollar’s position as the world’s reserve currency.

Previously, Presidential candidate RFK Jr. had outlined plans to support the US dollar with Bitcoin and end Bitcoin taxation.

Democratic Presidential candidate Robert F. Kennedy Jr. announced on Wednesday his intention to back the US dollar with Bitcoin and put an end to taxing Bitcoin. The Bitcoin-supporting presidential candidate RFK Jr. pledged his support for the cryptocurrency industry, which is providing a glimmer of hope during times of increased regulatory scrutiny and government intervention.

the future president of the usa expresses concerns about government attacks on bitcoin 65b964a252a70

Robert F. Kennedy Jr.’s Bitcoin-Focused Policies

During the Heal-the-Divide PAC event, United States Presidential candidate Robert F. Kennedy Jr. laid out a series of Bitcoin-focused policies, including gradually supporting the US dollar with Bitcoin and making Bitcoin capital gains tax-free.

“My plan would start very small, perhaps 1% of treasury bonds issued would be backed by hard assets, be it gold, silver, or Bitcoin.”

Kennedy Jr. intends to incrementally increase the allocation depending on the outcomes of the initial phase. If elected as President, his administration would explore financial system reform policies, back the US dollar and American debt obligations with hard assets, and foster job creation in the business and technology sectors within the United States.

(100 votes)

5.0/5

(100 votes)

Latest

Binance May Delist 3 Tokens

News | Altcoin | Editor Choice

Binance May Delist 3 Tokens

Binance has added BAKE, IDEX, and SLF to its Monitoring Tag list, signaling a potential delisting if these tokens fail to meet the exchange’s strict listing criteria.

Why Are Memecoin Prices Skyrocketing Again

News | Editor Choice | Memecoin

Why Are Memecoin Prices Skyrocketing Again?

Memecoins like Dogecoin, Shiba Inu, and Floki have suddenly surged in value following Elon Musk’s announcement of a new political party, reigniting excitement across the crypto community.

Uk Traders To Face £300 Fine For Trading From 2026

Policy & Regulations | Editor Choice

UK Traders to Face £300 Fine for Trading from 2026

According to a statement from the UK Government, traders in the country will face a £300 fine if they fail to provide complete personal information.

Stake Toncoin (ton) Receives Uae Golden Visa

Altcoin | Editor Choice

Stake Toncoin (TON) Receives UAE Golden Visa

The Ton Foundation has announced a unique program allowing investors to receive a UAE Golden Visa by staking TON tokens.

Trump Attacks Elon Musk For Wanting To Form A America Party

Altcoin | Editor Choice

Trump Attacks Elon Musk for Wanting to Form a America Party

President Trump has rebutted billionaire Elon Musk's proposal to form an American political party, calling it a ridiculous idea that would only cause chaos.