An independent US presidential candidate, trying to attract crypto enthusiasts to his side, called cryptocurrencies and, in particular, Bitcoin, an important tool against government abuses and the financial enslavement of citizens.

Robert F. Kennedy Jr., speaking with Custodia Bank CEO Caitlin Long at ETHDenver 2024, equated cryptocurrency transactions with freedom of expression. The politician argues that without cryptocurrencies, financial independence and freedom are at risk. He recalled the Freedom Convoy truckers who marched through Ottawa several years ago to protest restrictions related to the COVID-19 pandemic.

“At that moment it occurred to me: if the government has the power to close your bank account, then it has the power to enslave and starve you if it doesn’t agree with your actions. That’s when I started getting interested in cryptocurrencies because transactions with cryptoassets would be a guarantee of freedom,” Kennedy Jr. said.

Cryptocurrencies, especially Bitcoin, are a reliable hedge against inflation, while the current policies of the US Federal Reserve (Fed) and banks only work to benefit the wealthy elite, says a populist candidate. Kennedy Jr. is confident: Bitcoin is a real way to end dependence on the US Federal Reserve and the monopoly of the banking system.

Despite initial difficulties investing in cryptocurrencies due to regulatory complexities, the emergence of spot Bitcoin ETFs in the US has opened the crypto market to a wider audience, the presidential candidate rejoices. The launch of exchange-traded funds for Bitcoin was one of the reasons that triggered the growth of the crypto market, and Bitcoin recently updated its all-time high.

Kennedy Jr. promised that if he became president of the United States, he would make the country a center of innovation in the field of blockchain, stablecoins and other cryptocurrencies. The politician intends to soften the tax regime for Bitcoin, which is currently taxed as a security, by exempting small purchases using cryptocurrencies so that people can use Bitcoin on a daily basis.

“Small cryptocurrency transactions should not be taxed. Then you can buy an apple, beer or car using cryptocurrency without paying tax on the value accrued from the moment of purchase. And this is just a little of what I am going to do for the sake of freedom of transactions,” Kennedy assured.

At the beginning of the year, Kennedy Jr. promised to ban the launch of a digital dollar if he won the election, so that the authorities could not track citizen purchases through CBDC.