Robert Kennedy Jr, a well-known Democratic figure, has announced that he will be accepting Bitcoin donations for his political campaign leading up to the upcoming Presidential general elections in the United States.
During his keynote speech at the conference, Kennedy described Bitcoin as a symbol of freedom that enshrines the spirit of democracy and freedom of expression.
Kennedy’s View on Bitcoin
In his keynote speech at the conference, Kennedy praised Bitcoin as a symbol of freedom that encapsulates the core values of democracy and the freedom of speech.
He revealed that his support for Bitcoin was sparked by his recognition of its value and potential when the Canadian government froze the bank accounts of truck drivers who were protesting against COVID-19 restrictions. Kennedy emphasized that the government’s attempt to suppress the movement highlighted the importance of unregulated funds in safeguarding the freedom of expression.
Robert Kennedy Jr. has recently expressed his disagreement with the Biden administration’s proposal to levy a 30% tax on the electricity usage of US-based cryptocurrency miners. In a tweet, the prominent personality conveyed his opposition to the plan and highlighted the importance of a diverse range of currencies in the country.
Meanwhile, Vivek Ramaswamy, a Republican candidate in the 2024 elections, has also expressed his confidence in Bitcoin as a tool for receiving campaign donations. He has announced that he will be receiving contributions made in the digital currency. Ramaswamy firmly believes that the thriving Bitcoin community can assist him in bolstering the U.S. dollar.
Crypto Popularity in US
Innovative financial engagement is the driving force behind the rising popularity of cryptocurrency in the United States. In fact, more than 70% of U.S. states have enacted legislation concerning cryptocurrency or blockchain.
Presently, there are 114 nations, including the US, considering the adoption of their own Central Bank Digital Currencies (CBDCs) to compete with cryptocurrencies. US authorities have declared their desire to oversee cryptocurrencies and the developing decentralized finance (DeFi) industry.
The task of managing concerns arising from digital assets has been assigned by Congress to the regulatory entities, majorly centered at the administrative and agency levels, such as the CFTC and SEC.
Regulations usually apply to cryptocurrency sales only if they meet the requirements of being a security sale under state or federal law or if they are considered a money transmission under state law. If this is the case, the person involved would be categorized as a money services business (MSB) under federal law.
