The Republican National Committee, the GOP organization, has unveiled a new platform that strongly supports crypto-innovation, as revealed in a document released Monday.

The document in question outlines the party’s priorities for the November election, with presumptive presidential candidate Donald Trump and Republican congressional candidates leading the way. The document reads:

Republicans will end Democrats’ illegal and un-American crypto crackdown and oppose the establishment of central bank digital currencies. […] We will defend the right to mine Bitcoin (BTC), and ensure that every American has the right to own their digital assets, and to transact free from government oversight and control.

The stance reflects a growing interest in digital assets among Trump and other GOP politicians. In particular, Trump has moved away from his earlier skepticism about cryptocurrency to become a strong advocate.

The GOP’s Crypto Efforts

The presidential candidate has personal experience with digital assets, having launched his own branded non-fungible tokens (NFTs). Additionally, the Trump campaign and an affiliated political action committee now accept crypto donations.

While the committee’s top 20 policy “commitments” do not explicitly mention crypto, digital assets are addressed as part of the economy under innovative initiatives. A major talking point for Trump and other Republican candidates in the 2024 campaign has been opposition to central bank digital currencies (CBDCs).

Republicans have criticized Democrats for allegedly pushing CBDCs that could enable greater financial oversight of American citizens. However, Federal Reserve Chair Jerome Powell and other officials say a potential digital dollar would be managed by the banking system, not the government.

They also say that such a currency would be adopted only with the approval of Congress and the White House. The platform has emerged as other jurisdictions, including China and Europe, are actively pursuing government-backed digital tokens, while the US is in an exploratory phase regarding CBDCs.

Source link