Bitcoin
Donald Trump’s Official Republican Platform Vows to Stop Cryptocurrency ‘Crackdown’ in the US
Former President Donald Trump’s Republican Party has officially announced adopted a platform that would seek to support cryptocurrency innovation, according to the document released Monday by the Republican National Committee.
The platform aims to expose the party’s priorities as a likely presidential candidate Trump and Republican congressional candidates head into the November elections, reflecting the growing interest in digital assets among Trump and other Republican politicians.
“Republicans will end the Democrats’ illegal and un-American crackdown on Crypto and oppose the creation of a Central Bank Digital Currency,” according to the document. “We will defend the right to mine Bitcoin and ensure that every American has the right to self-custody their Digital Assets and transact free from Government Surveillance and Control.”
In recent months, Trump has turned his previous suspicion of cryptocurrency into firm support. He also has some personal experience with digital assets, having released several of his own branded sets of non-fungible tokens (NFTs).
The Trump campaign and an affiliated political action committee also accept cryptocurrency donations.
The announcement of the committee’s new platform listed 20 of its key policy “promises” without including cryptocurrency, but digital assets did appear in the economy section under innovation initiatives.
Opposition to central bank digital currencies (CBDCs) has been a popular talking point for Trump and other Republicans on the 2024 campaign trail. While other jurisdictions — including China and Europe — have pursued the idea of government-backed digital tokens, the U.S. has not progressed beyond the research phase.
Republicans have accused Democrats of pushing for CBDCs that would allow for greater financial surveillance of U.S. citizens. However, Federal Reserve Chairman Jerome Powell and other administration officials have insisted that such a theoretical digital dollar would be administered by the banking system, not the government. And Fed officials have said it will not be adopted without approval from Congress and the White House.
Read more: Crypto Giants Score Victories in Expensive Quest to Influence US Policy – Without Mentioning Crypto