Robert Kennedy Jr Slams SEC for Protecting Banks Instead of American People — Calls for Crypto-Friendly Commissioners

Robert Kennedy Jr Slams SEC for Protecting Banks Instead of American People — Calls for Crypto-Friendly Commissioners

U.S. presidential candidate Robert F. Kennedy Jr. says he doesn’t need anti-crypto folks on the Securities and Exchange Commission (SEC). He additionally slammed the securities regulator for shielding banks moderately than the American folks. “What they’re doing is obscure, it’s not clear, and it’s not bringing transparency to our system,” mentioned the presidential hopeful.

RFK Jr on SEC, Bitcoin, Crypto Regulation

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) expressed admiration for bitcoin whereas criticizing the regulatory method of the Securities and Exchange Commission (SEC) in direction of the cryptocurrency business in an interview with Thestreet, printed Friday. RFK Jr. is a nephew of former U.S. President John F. Kennedy and a son of former U.S. Attorney General Robert F. Kennedy.

Sharing his intention to appoint crypto-friendly people to the SEC ought to he be elected president, Kennedy acknowledged:

I don’t need folks on the SEC fee who’re anti-crypto. At most, they need to be impartial, and we should always have folks on there who’re from the crypto group.

Multiple folks have criticized the SEC, beneath Chair Gary Gensler, for taking an enforcement-centric approach to regulating the crypto house. In December final yr, Gensler mentioned the securities watchdog will use all accessible instruments to crack down on uncompliant crypto companies. However, many have complained that the foundations are so unclear that it is vitally troublesome to make sure compliance. Last month, the Nasdaq-listed crypto trade Coinbase filed legal action in opposition to the SEC over an absence of regulatory readability. In the identical month, U.S. Congressman Warren Davidson (R-OH) revealed that he’s introducing laws to remove the chairman of the SEC “to right an extended collection of abuses.”

Kennedy pressured: “SEC’s perform now’s to not shield the American folks, however it’s to guard the banks — significantly the central banks and people pursuits.” He added:

What they’re doing is obscure, it’s not clear, and it’s not bringing transparency to our system.

RFK Jr Highlights Benefits of Bitcoin

The presidential hopeful has been a powerful supporter of bitcoin and his marketing campaign accepts BTC donations. Kennedy defined:

One of the fundaments of Bitcoin is which you can belief it. And no person can manipulate it. There’s no human being that may manipulate it.

“What occurs with Bitcoin could be very, very democratic. It’s all determined by all of the miners in a democratic means and by algorithms that may’t be manipulated,” Kennedy continued. “It’s the right base forex, as a result of there’s a finite quantity of it… The Bitcoin that exists on the Earth is infinitely divisible, so it’s type of the right forex — it has an intrinsic worth and it offers folks a means out.”

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