A participant in the current US election race, Robert Francis Kennedy Jr., if elected, promised to provide the national currency with bitcoin and exempt income from operations with it from taxation.
According to the representative of the Democrats, the American economy can be stabilized by supporting the dollar with “hard currency” like gold, silver, platinum or bitcoin.
“Securing the national currency and U.S. debt could help restore the currency to strength, curb inflation and usher in a new era of financial stability, peace and prosperity,” the presidential candidate said.
Kennedy explained that the process could be gradual. Depending on the success, the amount of support can be adjusted.
“My plan would consist of extremely small steps. Possibly 1% of issued Treasury papers,” he explained.
Exempting profits from bitcoin transactions from capital gains tax will spur investment and encourage companies to develop their business in the United States, rather than in other cryptocurrency-friendly jurisdictions like Singapore or Switzerland, Kennedy added.
The current statements continue the cycle of his statements regarding digital gold.
Previously, if he wins the election, he promised to make decisions that “support bitcoin and freedom of transactions, allowing people to manage their wallets, nodes and passwords.”
According to him, the country will create a simple regulatory environment, providing only “strict control to prevent money laundering.”
Prior to this, Kennedy called bitcoin an alternative to the traditional financial system. In addition, he criticized US regulators for the “war on cryptocurrencies” that led to a banking crisis in the country.
A week earlier, the presidential candidate admitted to having invested ~$250,000 in digital gold.
One of Kennedy’s Republican rivals, Florida Gov. Ron DeSantis, vowed in May to protect the first cryptocurrency if elected head of state.
Recall that in June, Coinbase CEO Brian Armstrong called the upcoming US elections a key moment for regulating digital assets.
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