RFK Jr. Blasts Biden’s Crypto Mining Tax Plan

May 3, 2023 8:51 pm Comments

RFK Jr. has made it clear that he’s all for the growth of cryptocurrency

In his latest statement, Kennedy stated “Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine. It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere.”

The Democratic presidential candidate proceeded to tweet “Biden’s proposed 30% tax on cryptocurrency mining is a bad idea.”

RFK Jr. then touched on the environmental concerns of crypto mining and wrote “Yes, energy use is a concern (though somewhat overstated), but bitcoin mining uses about the same as video games and no one is calling for a ban on those. The environmental argument is a selective pretext to suppress anything that threatens elite power structures.”

Read his full tweet here:

Per Benzinga:

Robert F. Kennedy Jr., the latest presidential candidate and a member of one of the most famous U.S. political families, criticized President Joe Biden’s proposed 30% tax on cryptocurrency mining, calling it a “bad idea.”

Kennedy believes that cryptocurrencies, such as Bitcoin, serve as a significant innovation engine and that the U.S. government should not hinder the industry or drive innovation elsewhere.

While acknowledging energy use concerns, Kennedy argued Bitcoin mining’s energy consumption is on par with that of video games, which face no such calls for bans or taxation.

He suggested the environmental argument is a selective pretext to suppress anything that threatens elite power structures, like Bitcoin.

Per Fortune:

Presidential candidate Robert F. Kennedy Jr. briefly waded into the national debate over crypto on Tuesday, pointing to a blog post by author Ellen Brown, who wrote about the federal government’s alleged war on the industry.

“FDIC and SEC have no authority to wage an extra-legal war on crypto,” tweeted Kennedy, who officially launched his campaign to secure the Democratic nomination for president a little more than two weeks earlier.

A noted vaccine skeptic, Kennedy is a member of the political dynasty to which president John F. Kennedy also belonged. And he’s not the only prominent U.S. politician to spout off on cryptocurrencies in the past week—Republicans and Democrats alike have drawn lines in the sand as they’ve joined the increasingly raucous fray over the industry’s future.

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