Support for Bitcoin and light-touch regulation
Kennedy revealed to The New York Post on Thursday that he plans to introduce policies supporting bitcoin and individuals’ freedom to transact, manage their own wallets, nodes, and passwords. He will also endorse a light-touch regulatory environment in the U.S., with only the narrowest controls necessary to prevent money laundering.
Opposition to central bank digital currencies
Kennedy expressed strong opposition to central bank digital currencies (CBDCs), calling them instruments of control and oppression that are destined to be abused.
The upcoming US presidential race
Kennedy’s viewpoint reinforces the idea that digital assets will be a key battleground in the 2024 United States presidential election.
State of Crypto Summit in New York
At the State of Crypto Summit held on Thursday, Coinbase CEO Brian Armstrong emphasized the importance of the upcoming presidential election for the future of the cryptocurrency market, noting that it’s politically unpopular to be anti-crypto right now.
Armstrong also addressed ongoing legal issues involving Coinbase and its competitor, Binance, drawing a contrast with companies facing more serious allegations. He reminded attendees that Coinbase’s interaction with the SEC is a civil matter regarding the definition of commodities and securities, stating that none of the more severe allegations plaguing other companies are an issue at Coinbase.