US presidential candidate Robert F. Kennedy Jr. shared his disapproval of SEC’s enforcement motion towards the crypto trade and plans to incorporate crypto-friendly members on the board when elected president.
In an exclusive interview with TheStreet, Robert F. Kennedy Jr. (RFK Jr.), an aspiring US presidential candidate, criticized the Securities and Trade Fee (SEC) for taking an enforcement strategy to regulating the crypto trade.
Kennedy stated such a heavy regulatory technique would possibly considerably have an effect on the nation’s digital asset ecosystem. When elected as president, he plans to nominate SEC workers with a positive view of digital property to make sure that the US stays a hub for crypto.
“I don’t need individuals on the SEC fee who’re anti-crypto,” Kennedy stated. “At most, they need to be impartial, and we must always have individuals on there who’re from the crypto group,” stated Kennedy.
US SEC No Longer Protects the Curiosity of the American Individuals
The presidential aspirant contrasted the present SEC system with the unique intentions of his grandfather, Joseph P. Kennedy Sr., who aimed to deliver transparency and equity to the monetary system throughout his tenure as the primary SEC commissioner.
Kennedy stated the monetary regulator not serves its unique goal of defending the American individuals. As a substitute, he argued that it primarily safeguards the pursuits of banks, notably central banks, reasonably than making certain transparency and equity for on a regular basis people.
“SEC’s operate now could be to not defend the American individuals, however to guard the banks – notably the central banks and people pursuits. What they’re doing is obscure, it’s not clear, and it’s not bringing transparency to our system,” stated Kennedy.
Bitcoin Provides Individuals a Manner Out
Chatting with TheStreet, Kennedy additionally shared his admiration for Bitcoin (BTC) and its worth proposition of belief and transparency within the face of turmoil corresponding to inflation. Though he has not personally invested in Bitcoin, the US presidential aspirant counseled its underlying worth as a base foreign money.
He praised its finite provide and infinite divisibility, making it an excellent medium of alternate. He stated the digital asset presents people an exit from conventional financial techniques by having intrinsic worth and offering an alternate choice.
Kennedy additional acknowledged that no person may manipulate the crypto asset. In accordance with him, Bitcoin’s democratic nature, pushed by miners and non-manipulable algorithms, makes it a reliable digital foreign money.
“The Bitcoin that exists on the Earth is infinitely divisible, so it’s the right foreign money – it has an intrinsic worth and offers individuals a approach out. And no person can manipulate it. There’s no human being that may manipulate it,” stated Kennedy.
The presidential aspirant declared his assist for the crypto asset final week throughout the Bitcoin 2023 convention in Miami, the place he publicly announced that his marketing campaign would settle for BTC donations. He additionally vowed to guard the digital asset towards “invasive surveillance”.