The Republican National Committee (RNC) just endorsed a platform that plans to promote cryptocurrency mining and oppose the creation of a central bank digital currency.
The Republican National Committee, led by Michael Whatley and Donald Trump’s daughter-in-law Lara Trump, has officially adopted its election platform, which includes a section on cryptocurrency innovation. The platform was released Monday as the party gears up for the November elections.
“Republicans will end the Democrats’ illegal and un-American campaign against cryptocurrencies, and oppose the creation of a central bank digital currency,” the document states. “We will defend the right to mine Bitcoin, ensure that every American has the right to self-custody of their digital assets, and transact without government oversight and control.”
The platform reflects the growing interest in digital assets among Trump and other Republican politicians.
Digital assets have been given a prominent place in the platform’s “Economics Section” as part of its innovation initiatives. The platform committee overwhelmingly approved the new draft, which is set for a final vote on Tuesday.
Trump and Cryptocurrencies
The shift marks a major shift for Trump, who has previously expressed skepticism toward cryptocurrencies but has become an outspoken advocate in recent weeks. On June 10, Donald Trump announced that he wanted to mine all remaining Bitcoin (BTC) in the United States, in the hope that the country could dominate the energy sector.
Trump has also personally dabbled in digital assets, launching several branded NFTs and accepting crypto donations for his campaign and political action committee.
Central Bank Digital Currencies
Opposition to central bank digital currencies has been a recurring theme for Trump and other Republicans during the 2024 campaign. The United States is still in the research phase, as are other regions, including China and Europe, exploring government-backed digital tokens.
Republicans argue that Democrats’ push for central bank digital currencies could lead to increased financial surveillance of citizens.
As we look ahead to the 2024 elections, the Republican Party’s strong support for Bitcoin and crypto innovation is becoming increasingly apparent. This demonstrates a clear trend of support for digital assets within the Republican National Committee, paving the way for the party to be seen as a leader in crypto innovation.
This contrasts with the more conservative approach taken by the Biden administration.
