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Robert F Kennedy Jr Wants Bitcoin Backed US Dollar And Tax Breaks For Investors

Democratic presidential candidate Robert Kennedy Jr. has two daring new insurance policies for his closing administration: exempting bitcoin (BTC) holders from capital positive factors tax and changing US {dollars} and Treasury payments with a proportion of laborious currencies like BTC. .

“Bitcoin is among the most tough currencies to mine and the Kennedy administration goes to encourage its unfold and dissemination,” Kennedy mentioned at a political motion committee (PAC) occasion known as Heal-the-Divide.

The primary of Kennedy’s daring concepts was to exempt bitcoin from capital positive factors tax when exchanged for US {dollars}, recognizing its unfavorable elements. The presidential candidate mentioned “this may carry windfall advantages to many bitcoiners who’ve some huge cash,” however added that “the advantages far outweigh the disadvantages.”

That is an try to counter the strikes of crypto-friendly nations corresponding to Switzerland, Singapore, Germany and Portugal. He believes that the tax exemption coverage will encourage funding, guarantee citizen privateness and encourage prime expertise to immigrate to america.

“My administration’s mission is to make America the hub of cryptocurrency, and bitcoin particularly,” he mentioned.

Based on the 68-year-old, this may make it much more tough for governments to “weaponise forex in opposition to free speech”. He touched on the thought of ​​central financial institution digital currencies (CBDCs) and mentioned he needed to create sturdy obstacles to their realization.

His polarizing views on cryptocurrencies should not the one ones.

Kennedy mentioned final month throughout a Twitter Area occasion with Tesla CEO Elon Musk that he was “satisfied” that the 2004 presidential election was stolen attributable to voter fraud and linked mass shootings within the US to prescribed drugs. Has gone. He additionally got here beneath fireplace just lately for alleging that “Covid-19 is geared toward attacking Caucasians and Black individuals. The people who find themselves most immune are Ashkenazi Jews and the Chinese language.

A White Home spokesman known as the claims “despicable” and “false”. In a June ballot of voters, Emerson School discovered that 15% of respondents mentioned they deliberate to vote for Kennedy within the major.

Kennedy’s second bitcoin announcement to help each the US greenback and the US. Treasury payments containing laborious property – particularly gold, silver, platinum and bitcoin. Though he plans to “begin small”, backing a 1% T-bill with a mixture of those property, he considers bitcoin to be “the hardest asset on the planet”.

Past these two intrepid proposals, Kennedy didn’t maintain again on different views on the state of the American financial system. In his view, the larger menace to the US is inflation and the Fed’s determination to lift rates of interest, which is “killing off poor individuals.” He added that he want to see “wise regulation” and for authorities to acknowledge bitcoin will not be a safety.

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