Democrat Robert Kennedy denounces the Biden administration’s war on cryptocurrencies. For this declared candidate for the 2024 US presidential election, Bitcoin is an engine of innovation. This environmentalist lawyer also responds to those who accuse Bitcoin of being an environmental disaster or a source of terrorist funding.
For the past few months, the United States has been waging a relentless war against cryptocurrencies. Face to the judicial harassment and to the imposition of fines exorbitant fines, some crypto platforms have been forced to shut down their operations in the U.S..
Beyond the war against crypto exchanges, the administration Biden considers a very severe tax regime for the crypto ecosystem. The US is considering taxing crypto mining up to 30% of the cost of energy consumption. Players could also be subject to a tax of 40% of their revenue under the 2024 budget proposal. Joe Biden hopes to shadow the crypto industry and develop a central bank digital currency (CBDC) instead.
These anti-crypto measures have already met strong resistance from some members of the Republican party. These include the Senator Mike Lee or the Governor of Florida Ron Desantis. Even in the president’s camp Joe Biden the war against crypto is not unanimously supported. Robert Kennedy, Democratic candidate for president in the United States Robert Kennedy, the Democratic candidate for president of the United States, has praised Bitcoin as an engine of innovation. At the same time, Robert Kennedy criticized the measures taken by the Biden administration that hinder the crypto industry in the US while favoring it elsewhere.
Bitcoin is not an environmental disaster
Bitcoin has always been portrayed by its detractors as an ecological disaster. Greenpeace, the ECB, the economists often present Bitcoin as a polluting asset. This is probably why the President Biden has proposed a 30% tax on energy consumption. These environmental concerns are false, says Robert Kennedy who is also an environmental lawyer.
While acknowledging that energy consumption is a concern, Robert Kennedy finds some exaggerations among Bitcoin’s detractors. He notes, for example, that Bitcoin consumes almost as much as video games. Yet no one is calling for them to be banned, he notes. For him, environmental concerns are a pretext by those in power to fight an asset they cannot control. A response reminiscent of the tribune of the Salvadoran president Nayib Bukele to Bitcoin’s detractors.
The environmental argument is a selective pretext for suppressing anything that threatens the power structures of elites. Bitcoin, for example.Robert Kennedy
Bitcoin is the currency of freedom
Robert Kennedy also revisits the accusations that the Bitcoin as a tool for financing crimes because of its confidentiality. This is a recurring accusation and serves as a pretext for restrictions against crypto users in many countries.
However, he believes that privacy is a need for citizens, activists and political opponents in the face of government repression. As the Human Rights Foundation, Robert Kennedy believes that through the control of bank accounts and payment platforms, governments can easily harass political dissidents. Thus, Bitcoin is a salvation for them, until governments are trustworthy.
Governments harass their enemies and crush dissent by controlling bank accounts and payment platforms. Until we restore trust in government (a distant prospect), we need money and crypto to guarantee freedom.Robert Kennedy
Robert Kennedy calls for the diversification of the American monetary system. For him, the banking crisis in the United States is an indicator of the fragility of the centralized system. Will Joe Biden listen? Not sure, but the fact that someone in his position understands the issues surrounding Bitcoin is evidence of the breakthrough of our industry.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.