Presidential Hopeful RFK Jr on Bitcoin: “I Will Only Allow Narrow Controls”

Kennedy shares rival Ron DeSantis’ negitive view on CBDCs.

Robert F. Kennedy Jr. preaching about Bitcoin.
Created by Kornelija Poderskytė from DailyCoin
  • Robert F. Kennedy is ready to let Bitcoin grow without too much governmental oversight.
  • The presidential hopeful looks to be a fan of Web3.
  • On the other hand, AI seems to scare him.

The upcoming U.S. presidential election has a number of topical debates that could swing voters’ minds. A more niche, yet important issue, is the handling of cryptocurrencies under the next regime. 

Democratic candidate Robert F. Kennedy Jr. has said his policy, when it comes to crypto, would be amicable, and he would not attempt to hinder anyone’s use of Bitcoin. The nephew of former president John F. Kennedy added he would “allow only the narrowest controls that are necessary to prevent money laundering.”

A Friendlier SEC Under Kennedy?

In a New York Post interview, Kennedy was asked if he would promote someone crypto-friendly at the SEC amid the current hardline crackdown by the Gary Gensler-led agency.

Kennedy did not answer directly but stated:

“ I will make sure that we have policies that support Bitcoin and the freedom to transact and that allow individuals to manage their own Bitcoin wallets, nodes, and passwords.”

Kennedy is clearly an advocate of Bitcoin, but an even stronger critic of Central Bank Digital Currencies (CBDC), which he feels are a “broadside against crypto.” In fact, Kennedy and rival presidential candidate Republican Ron DeSantis have seen to be united in opposition to CBDCs.

A Believer in Tech Freedom

It appears that Kennedy’s belief in cryptocurrency, particularly Bitcoin, stems from his criticisms of the current tech industry, which massive corporations monopolize. 

In the New York Post interview, Kennedy added, “I’ve been critical of the tech industry, particularly social media platforms, for cooperating with the government in censoring Americans.” Adding: “Many want to see technology live up to the idealistic promises about the potential to democratize communications globally.”

These ideals that Kennedy holds close speak to his distrust of CBDCs and his admiration of Bitcoin as a financial freedom tool. However, these ideals also seem to contrast with the current Democratic regime. 

In a Twitter space with Elon Musk – someone Kennedy admits to admiring– DeSantis claimed that the President Joe Biden-led administration was against Bitcoin.

On the Flipside

  • Despite believing in technological freedom, Kennedy is wary of AI and shares Musk’s fear of it, quoting the Tesla CEO: “. Elon has said that AI will first take our jobs and then it will kill us.”

Why This Matters

The U.S. crypto ecosystem sits on a knife edge as the SEC runs riot and Wall Street moves in. Having a candidate that appreciates the nature of Bitcoin and wants to protect its power and potential is a big draw card for people who believe in decentralized financial tech like crypto. 

Read more about DeSantis and Kennedy’s opposition to CBDC:

DeSantis & Kennedy Jr. United in Opposition to CBDCs

Read more about busy Bitcoin Whales:

Million Dollar Bitcoin Whales: 259 $1M+ BTC Transactions Fly in as Coin Tops $30,000

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Darryn Pollock

Darryn Pollock is a South African-born, UK-based journalist and content writer for DailyCoin with a focus on regulation and legislation revolving around the cryptocurrency space. He has covered the evolving crypto regulatory space, and examined how the US has approached law-making to offer protection in the growth of innovation. Darryn values traditional journalistic principles of truth, accuracy, independence, fairness, and impartiality, and has a Bachelor of Arts degree in Journalism and Law from Rhodes University in South Africa.