Presidential candidates advocate Crypto, promise to bring regulation

IMF calls for tighter Crypto regulation in Africa as the industry unfolds

As the United States election is around the corner, Crypto enthusiast Robert F. Kennedy Jr., a US presidential contender, pronounces his favour for digital assets. Discussing vaccination and technology during the Washington Post interview he fiercely advocated for digital assets.

During the interview, he further propagated his ideas regarding regulating cryptocurrencies and digital assets through legislative enactments. He is determined to enact policies that prioritize the cryptocurrency’s well-being and protect individuals’ freedom to engage in transactions. The presidential candidate eulogizes the decentralized nature of cryptocurrencies, considering them an embodiment of democracy and a defence against control and oppression within the financial realm.

It is important to note that there is a tussle between the Democrats and the Republicans over the regulation of cryptocurrency where the former aims to develop a flourishing ground for cryptocurrencies and digital assets, later accused of hampering crypto development in the country. It was reported earlier this month by a crypto analyst that rigorous regulation of crypto assets in the country can have financial implications in the future.

By becoming the first presidential candidate to accept Bitcoin campaign donations, Kennedy Jr. solidifies his position as a staunch advocate for the cryptocurrency industry. His move was later copied by other presidential candidates as seen in the previous months. He said he perceives Bitcoin as more than a mere investment opportunity, instead embracing it as an exercise in democracy.

While advocating for limited controls necessary to prevent money laundering, Kennedy Jr. took a firm stance against central bank digital currencies, denouncing them as instruments of control and oppression that are bound to be abused.

The U.S. crypto environment is considered one of the most severely regulated crypto atmospheres in the world. China on the one hand has been applying trial and error methods, U.S. administration is still focussing more on taxation causing impediments in crypto development.

Kennedy Jr. said his support for Bitcoin resonates with those who view cryptocurrencies as catalysts for financial empowerment and a shield against oppressive systems. Meanwhile, as his presidential campaign gains momentum, Kennedy Jr.’s pro-Bitcoin stance positions him as a candidate committed to navigating the complexities of a digital future while prioritizing the principles of individual sovereignty and economic inclusivity.

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