Robert Francis Kennedy Jr. (Source: BioPharma Dive
- US President-elect Donald Trump has nominated RFK Jr. to be the Secretary of HHS.
- Pro-Bitcoin executives are now in charge of important government departments under the upcoming administration.
President-elect Donald Trump’s most recent nominee has caused a fresh political shift in the US Bitcoin environment. Reports state that Trump selected Robert F. Kennedy (RFK) Jr., a supporter of Bitcoin, to be the Secretary of Health and Human Services (HHS).
RFK Jr.’s Nomination: What Does It Mean for Crypto?
Kennedy’s nomination indicates a potential move toward a more crypto-friendly regulatory climate. During an election campaign event, Trump reaffirmed his support for Bitcoin. He also promised to make the United States a global powerhouse for bitcoin. According to a CNF story published immediately after his election, Trump announced plans to establish a US strategic Bitcoin Reserve.
Donald Trump U.S. President-elect (from The AP) (Source: Euronews.com
Similar to Donald Trump, RFK Jr. has continuously stated his support for cryptocurrency and Bitcoin. In order to improve the stability of the US currency, he is one senator in the US that supports Bitcoin as a strategic reserve. His proposal to exempt Bitcoin from capital gains tax was submitted. He also suggested a financial strategy for the US to purchase $619 billion worth of Bitcoin.
Kennedy sees a time when Bitcoin is accepted as a decentralized currency that encourages privacy and financial independence. His substantial Bitcoin holdings show his dedication to the digital asset ecosystem. According to CNF, as of June 30, 2023, RFK’s family had between $100,001 and $250,000 in Bitcoin assets in a brokerage account.
Vice President-elect JD Vance and Secretary of Defense Nominee Pete Hegseth are two other well-known proponents of cryptocurrency in Trump’s team. Their presence instills optimism among US crypto participants about a more promising future for the industry. They have high hopes that the Trump administration will establish transparent crypto regulations to direct the market.
Image: Elon Musk and Vivek Ramaswamy
The new Department of Government Efficiency (D.O.G.E.) will be headed by Vivek Ramaswamy and tech billionaire Elon Musk. This suggests a playful attitude to governance despite sobering economic debates.
There is growing anticipation that Dan Gallagher will become the SEC’s next chair. Robinhood’s Chief Legal Officer, Dan Gallagher, is a candidate for the SEC Chair position. Many expect Gallagher will push the agency away from its hardline attitude on cryptocurrency, as seen under Gary Gensler’s leadership.
