Reserve Dollar

Biden

Joe Biden

Donald Trump

United States presidential longshot Robert F. Kennedy Jr. promised to end claimed regulatory hostility toward crypto if elected, claiming a threat to “transactional freedom” is an issue for Americans leading into November’s election.
“We need sovereignty over our own wallets and transactional freedom,” Kennedy told reporters at Consensus on May 30. “We need a decentralized currency that is transparent as a bulwark against totalitarianism.”
He cited the Canadian government’s 2022 freezing of fiat and crypto to “Freedom Convoy” protesters over trucker vaccine mandates as a reason for needing financial sovereignty. 
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 Kennedy (left) speaking to reporters at Consensus. Source: Turner Wright/Cointelegraph
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Canada’s Federal Court <a href="https://cointelegraph.com/news/canada-use-of-law-freezing-protesters-crypto-donations-unconstitutional">said the measures</a> were unreasonable and unconstitutional in January.
“The hostility of the Biden administration to Bitcoin is driving this technology abroad,” Kennedy claimed, adding U.S. laws had driven out crypto companies to Switzerland and Singapore.
“We need to make sure America remains the hub of blockchain technology.”
If elected president, Kennedy promised to “end that hostility toward cryptocurrencies” from the Federal Reserve and regulators — the Securities and Exchange Commission and the Federal Deposit Insurance Corporation (FDIC).
“I’m going to make sure that cryptocurrencies are regulated in ways that protect the consumer from malicious schemes and pump-and-dump schemes,” he said.
“Truly decentralized currencies should be encouraged, and we should be encouraging the flow of capital into those currencies. I’m going to do that as president.”
The <a href="https://cointelegraph.com/news/donald-trump-memecoin-recovers-after-guilty-conviction">now-convicted felon</a>&nbsp;and presidential candidate Donald Trump pledged earlier this week that if elected, he would ensure “the future of crypto” <a href="https://cointelegraph.com/news/donald-trump-ross-ulbricht-silk-road">would be U.S.-centric</a>.
Kennedy is running as an independent with a slim chance of nabbing the presidency. 
He’s polling at 9.8% compared to leader Trump at 41.2% and President Joe Biden at 39.5%, according to May 30 FiveThirtyEight <a href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" target="_blank" rel="noopener nofollow">polls</a>.
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 <img src="https://s3.cointelegraph.com/uploads/2024-05/f4856e08-f91c-4d35-9cbf-042ab6436ddb.png">
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 National polling averages per candidate. Source: FiveThirtyEight
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Kennedy’s favorability has also dropped, with <a href="https://projects.fivethirtyeight.com/polls/favorability/robert-f-kennedy/" target="_blank" rel="noopener nofollow">polls</a> as of May 23 showing nearly 42% of respondents have an unfavorable opinion of him — still <a href="https://projects.fivethirtyeight.com/polls/favorability/donald-trump/" target="_blank" rel="noopener nofollow">lower</a> than Trump’s 53.7% and Biden’s 55.5% unfavorability <a href="https://projects.fivethirtyeight.com/polls/favorability/joe-biden/" target="_blank" rel="noopener nofollow">polling</a>.
Related: <a href="https://cointelegraph.com/news/implementing-fit21-slow-process-cftc-commissioner">Implementing FIT21 could be a ‘slow, slow process’ — CFTC Commissioner</a>
Many in the U.S. crypto industry have claimed <a href="https://cointelegraph.com/learn/who-is-gary-gensler-regulating-crypto">the SEC</a> has no sway over digital assets as Congress hasn’t passed specific laws giving it such jurisdiction and that cryptocurrencies don’t fit the regulator’s <a href="https://cointelegraph.com/learn/is-ethereum-a-security-ccurrency-or-commodity">securities-defining Howey test</a>.
That hasn’t stopped the SEC from <a href="https://cointelegraph.com/news/trump-win-might-dismiss-sec-suits-critics-disagree">launching multiple lawsuits</a> against crypto firms, alleging they’ve broken securities laws and operated illegally.
The Fed and the FDIC are also seen as unwelcoming to crypto. The FDIC’s 2023 risk review report <a href="https://cointelegraph.com/news/fdic-highlights-crypto-risk-to-banking-in-2023-review">called digital asset risks</a> “novel and complex,” while the Fed in August <a href="https://cointelegraph.com/news/us-fed-increases-bank-oversight-on-crypto">increased oversight</a> of banks’ relationships with crypto companies.
The U.S. presidential election is slated for Nov. 5.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-voters-are-already-affecting-the-2024-presidential-election/">Crypto exposes sudden rift among Democrats months ahead of election</a>
Additional reporting by Turner Wright.

RFK Jr. latest to vow end to US crypto ‘hostility’

Cointelegraph

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