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Robert F. Kennedy Jr. joins other potential candidates in calling for greater regulation of the cryptocurrency industry.
RFK Jr. Blasts White House Effort to Impose 30% Tax on Crypto
Thu, 04 May 2023, 06:08 am UTC
As the 2024 U.S. presidential race begins to take shape, crypto regulation and taxes are already emerging as key issues for candidates.
Robert F. Kennedy Jr., a prominent environmental lawyer and son of the late U.S. Senator Robert F. Kennedy, has become the latest potential candidate to weigh in on the topic.
In a recent interview, Kennedy expressed concerns about the lack of regulation in the cryptocurrency industry, arguing that it has allowed bad actors to exploit the technology for illicit purposes.
He also raised concerns about the environmental impact of cryptocurrencies, citing the high energy consumption required for mining.
Kennedy's comments come as other potential candidates, including Senator Elizabeth Warren and former Treasury Secretary Lawrence Summers, have also called for greater regulation of the crypto industry.
Warren, a vocal critic of the industry, has proposed a wealth tax that would target billionaires who hold large amounts of cryptocurrency, while Summers has called for a "concerted international effort" to regulate the industry.
In addition to regulatory concerns, taxes are also emerging as a key issue for the crypto industry in the 2024 presidential race. Many in the industry are concerned about the possibility of increased taxes on cryptocurrency gains, which could reduce the incentive for investors and hinder the industry's growth.
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