Kennedy Jr. Opposes Crypto Tax and Regulation in 2024 Presidential Campaign

Democratic presidential candidate Robert F. Kennedy Jr. has voiced his opposition to the Biden Administration’s proposed 30% tax on cryptocurrency mining in the U.S. The environmental lawyer and member of the prominent Kennedy political family has raised several digital asset industry issues in the early days of the 2024 presidential race.

Kennedy expressed his disapproval of the proposed tax on Twitter, stating that it would be a mistake for the U.S. government to hinder the industry and drive innovation away. He called the 30% tax on cryptocurrency mining a “bad idea.”

In addition to his criticism of the proposed tax, Kennedy also spoke out against U.S. financial regulators, accusing them of waging “an extra-legal war on crypto” that has harmed the banking system. Last month, he shared his opinion on central bank digital currencies (CBDC), arguing that such government-backed tokens are “the ultimate mechanisms for social surveillance and control.”

Kennedy’s anti-CBDC stance is similar to that of Florida Governor Ron DeSantis, who is expected to run as a Republican candidate in the 2024 presidential race. It remains to be seen if Kennedy’s name recognition will secure his position among leading Democrats in the upcoming elections.