United States presidential candidate Robert F. Kennedy Jr. has announced a plan to back the dollar with Bitcoin, and end taxes on Bitcoin.
From a report: Speaking at a Heal-the-Divide PAC event, Democratic Presidential Candidate Robert F. Kennedy Jr. outlined specific Bitcoin-focused policies that he would enact as president, including gradually backing the U.S. dollar with bitcoin and making bitcoin profits exempt from capital gains taxes. “My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin,” Kennedy said, describing his vision for returning to a hard currency standard in the U.S. He added that, depending on the outcome of that initial step, he would increase that allocation annually. This potential policy reimagines the financial system, pointing to a future where bitcoin’s absolute scarcity and sound monetary principles reinforce the U.S. dollar’s eroding position as the world reserve currency. Kennedy Jr. added: “Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.” In addition, Kennedy announced his administration "will exempt the conversion of bitcoin to the U.S. dollar from capital gains taxes.:<p><div class=“share_submission” style=“position:relative;”> <a class=“slashpop” href=“http://twitter.com/home?status=US+Presidential+Candidate+RFK+Jr.+Announces+Plan+to+Back+Dollar+With+Bitcoin%2C+End+Bitcoin+Taxes%3A+https%3A%2F%2Fpolitics.slashdot.org%2Fstory%2F23%2F07%2F19%2F0439235%2F%3Futm_source%3Dtwitter%26utm_medium%3Dtwitter”><img src=“https://a.fsdn.com/sd/twitter_icon_large.png”></a> <a class=“slashpop” href=“http://www.facebook.com/sharer.php?u=https%3A%2F%2Fpolitics.slashdot.org%2Fstory%2F23%2F07%2F19%2F0439235%2Fus-presidential-candidate-rfk-jr-announces-plan-to-back-dollar-with-bitcoin-end-bitcoin-taxes%3Futm_source%3Dslashdot%26utm_medium%3Dfacebook”><img src=“https://a.fsdn.com/sd/facebook_icon_large.png”></a>
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