- April 22, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
US presidential candidate Robert F. Kennedy, Jr. said he wants to put the “entire US budget” on blockchain so Americans can inspect it anytime, The Hill reported on April 22.
Kennedy said that putting data on a blockchain would make the budget available “24 hours a day.”
Making budget data available on-chain could increase public scrutiny by publicizing government spending beyond current budget plans and reports. To emphasize the need for public oversight, Kennedy referred to past controversies concerning the Pentagon’s expensive upgrades to military washrooms, stating:
“If somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”
The Hill reported that Kennedy made his comment during a Michigan rally. Kennedy’s website identified his only Michigan event on April 21 as “A Night of Laughter with Robert F. Kennedy, Jr. and Friends” — a campaign fundraising event.
Kennedy’s other crypto efforts
Kennedy is known for his favorable stance toward crypto, including an independent campaign platform with permissive crypto policies.
In an interview with The New York Post in 2023, he described policies designed to protect individuals’ rights to “wallets, nodes, and passwords” combined with minimal controls against money laundering.
He has also advanced more complex goals. In July 2023, he proposed partially backing the US dollar and US debt obligations with Bitcoin. He also proposed exempting Bitcoin from capital gains taxes. It is unclear whether his goals are viable.
Kennedy began to accept Bitcoin donations in his campaign in May 2023. His own BTC investments also came to light that summer.
Kennedy has condemned various existing policies, including the Biden administration’s proposed 30% crypto mining tax. He has also suggested that the US government’s FedNow payment system could lead to a ban on Bitcoin.
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