RFK Jr criticizes SEC’s crypto enforcement action
In an interview with TheStreet, Robert F. Kennedy Jr. (a potential US presidential candidate) criticized the Securities and Exchange Commission (SEC) for their enforcement approach to regulating the cryptocurrency industry. Kennedy believes that this strict regulatory strategy may significantly impact the country’s digital asset ecosystem. If elected as president, Kennedy plans to appoint SEC staff with a favorable view of virtual assets to ensure that the US remains a hub for crypto. Kennedy stated that he does not want people on the SEC commission who are anti-crypto, and instead, they should be neutral or from the crypto community.
US SEC No Longer Protects the Interest of the American People
Kennedy contrasted the current SEC system with the original intentions of his grandfather, Joseph P. Kennedy Sr., who aimed to bring transparency and fairness to the financial system during his tenure as the first SEC commissioner. Kennedy believes that the financial regulator no longer serves its original purpose of protecting the American people. Instead, he argues that it primarily safeguards the interests of banks, particularly central banks, rather than ensuring transparency and fairness for everyday individuals.
Kennedy believes that Bitcoin (BTC) offers people a way out of traditional monetary systems by having intrinsic value and providing an alternative option. He praised Bitcoin’s finite supply and infinite divisibility, making it an ideal medium of exchange. Kennedy also believes that nobody can manipulate the crypto asset. According to him, Bitcoin’s democratic nature, driven by miners and non-manipulable algorithms, makes it a trustworthy digital currency.
Last week, Kennedy publicly declared his support for the cryptocurrency at the Bitcoin 2023 conference in Miami. He announced that his campaign would accept BTC donations and vowed to protect the digital asset against “invasive surveillance.”
