2024 U.S. presidential candidate Robert F. Kennedy Jr. condemned Biden’s proposed 30% bitcoin mining tax and echoed concerns about cryptocurrencies.
Kennedy tweeted: “Cryptocurrencies such as Bitcoin and other crypto technologies are major innovation engines. The US government is wrong to hinder the industry and promote innovation elsewhere. Biden proposed a 30% tax on cryptocurrency mining.” Taxes are not a good idea. Energy use is an issue (albeit exaggerated), but bitcoin mining uses about as much energy as video games, and no one is calling for them to be banned. The environmental argument is a selective excuse, with to suppress anything that threatens elite power structures, such as bitcoin. Some advocate strict controls on cryptocurrencies to prevent them from being used by criminals. But it’s not just criminals who want privacy. So do dissidents and ordinary citizens. Government Harass enemies and suppress dissent by controlling bank accounts and payment platforms.”