Bitcoin In The Spotlight: US Presidential Candidate Advocates For Regulatory Measures | Bitcoinist.com

Bitcoin seems to be on the forefront of US politics, with a number of key stakeholders taking a optimistic stance on the main cryptocurrency just lately. The newest particular person to precise his assist for the main forex is Robert Kennedy Jr., a Democratic candidate for the 2024 US presidential elections.

Kennedy Champions Bitcoin As A Image Of Democracy And Freedom  

In the course of the ongoing Bitcoin 2023 conference in Miami, Kennedy introduced his proposals for regulating the Bitcoin (BTC) ecosystem and different cryptocurrencies. In his speech, Kennedy praised the crypto as greater than only a cryptocurrency, describing it as a logo of democracy and freedom. 

He argued that crypto applied sciences are driving innovation and criticized how the US is stifling the trade, resulting in innovation shifting elsewhere. Kennedy outlined a four-pronged plan that he believes is essential for regulating and growing the crypto ecosystem within the US. 

This features a pledge to ensure the correct to personal BTC and run a node, guarantee impartial power laws, preserve the US as the worldwide middle, and revisit the convictions of Bitcoin pioneers like Ross Ulbricht. 

Associated Information: Sharp Decline In Miner Balances Suggests Incoming Promoting Stress For Bitcoin

These proposals purpose to counteract the present insurance policies applied by varied US companies, that are considered as a government-led assault on the crypto and its neighborhood. Particularly, Kennedy’s third proposal seeks to handle limitations on Bitcoin mining, together with the just lately proposed 30% tax on mining operations, which he strongly opposes. He argues that this tax plan relies on a flawed environmental conservation judgment influenced by elite pursuits.

The US authorities’s actions in opposition to the cryptocurrency market, notably via the Securities and Alternate Fee (SEC), are additionally a priority. The SEC has filed lawsuits in opposition to main exchanges similar to Coinbase, Kraken, and Binance. Moreover, SEC Chairman Gary Gensler’s stance on cryptocurrency property, other than Bitcoin, being categorized as securities, has sparked controversy.

General, these measures point out an extreme degree of regulation that’s prompting corporations and builders to flee the US. This prompted Kennedy’s fourth proposal, which goals to make sure that the US retains its place as a world hub for cryptocurrencies.

US Politicians See Worth In The Crypto

Kennedy, an environmental lawyer, publicly declared himself a Bitcoin supporter in April and has since been vocal in opposing the laws imposed by the Joe Biden administration, that are unfavorable to cryptocurrencies. 

He has additionally built-in Bitcoin funds as a way of donation on his official marketing campaign web site. The BTC fee portal directs customers to an opennode.com checkout web page that does require varied identification necessities. 

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It’s price noting that the Bitcoin 2023 convention options a number of American politicians who assist the crypto ecosystem, together with Senator Cynthia Lummis from Wyoming, Congressmen Patrick McHenry from North Carolina, Byron Donalds from Florida, and former congresswoman Tulsi Gabbard from Hawaii, who was previously a member of the Democratic Get together.

BTC buying and selling beneath $27,000: supply @Tradingview

-Featured picture from iStock.com, chart from TradingView.com

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