Is Bitcoin Becoming An Election Issue? 2 Presidential Candidates Chime In

In a bid to promote financial freedom and innovation, U.S. presidential candidates from different parties are throwing their weight behind Bitcoin (CRYPTO: BTC) and related technologies.

Democrat candidate Robert F. Kennedy Jr., in an interview with The New York Post, pledged his commitment to fostering policies that support Bitcoin.

He emphasized the importance of individual autonomy in managing Bitcoin wallets, nodes and passwords.

"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 said.

He acknowledged the need for some regulation, albeit minimal, to curb money laundering.

Kennedy also made it clear that he is against central bank digital currencies.

"I oppose central bank digital currencies because they are instruments of control and oppression, and are certain to be abused,” he said.

Also Read: Crypto Ban Not The Answer: International Monetary Fund Urges Effective Regulation

On the other hand, Republican presidential candidate Vivek Ramaswamy is not only a proponent of Bitcoin but is also accepting campaign donations in cryptocurrency.

In an interview with CBS News, Ramaswamy unveiled his plans to introduce a proposal aimed at reducing tax restrictions on Bitcoin mining in the U.S.

"The thriving Bitcoin universe should actually better empower me to do what I want to do as the U.S. president, which is to stabilize the U.S. dollar as a unit of measurement and put the Federal Reserve back in its place with that as its single mandate," Ramaswamy told CBS News.

His proposal, which he plans to present at the upcoming Bitcoin 2023 conference in Miami, seeks to establish Bitcoin and similar cryptocurrencies as parallel currencies, not securities.

This classification, according to Ramaswamy, would create an environment conducive to the growth and stability of cryptocurrencies alongside the U.S. dollar.

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