Robert F. Kennedy Jr., a presidential candidate, controversially proposes to back the US dollar with Bitcoin to strengthen the economy and curb inflation. Skeptics voice concerns over Bitcoin’s volatility and potential issues of economic inequality resulting from proposed tax exemptions on Bitcoin-to-dollar conversions.
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US Elections: Kennedy’s Pro-Crypto Stance Stokes Capital Gains Tax Debate
“US Democratic presidential hopeful Robert F. Kennedy Jr. has recently committed to exempt digital currencies from capital gains tax when converted to USD. He claims this will incentivize investment, boost crypto businesses domestically and enhance citizen privacy. Critics warn that this could also open up a Pandora’s Box of risks, including financial instability and abuse of these platforms for illicit activities.”