Republican National Committee makes a commitment to
The Republican National Committee (RNC) has recently adopted a platform that aims to promote crypto mining and oppose the development of a CBDC (Central Bank Digital Currency).
Under the leadership of Michael Whatley and Lara Trump, daughter-in-law of Donald Trump, the RNC has officially released its election platform, which includes a section dedicated to crypto innovation. This platform was unveiled on Monday as the party prepares for the upcoming November election.
According to the document, the Republicans plan to put an end to the Democrats’ crackdown on crypto, which they deem unlawful and un-American. Additionally, they express their opposition to the creation of a CBDC. Their stance is to defend the right to mine Bitcoin and ensure that every American has the freedom to control their digital assets without government surveillance and control.
This platform reflects the growing interest in digital assets among Trump and other GOP politicians. The ‘economy section’ of the platform highlights digital assets as part of the party’s innovation initiatives. The new draft received overwhelming approval from the platform committee and is scheduled for a final vote on Tuesday.
This shift in stance is significant for Trump, who previously expressed skepticism towards cryptocurrency but has recently become a vocal advocate. On June 10, he announced his desire for all remaining Bitcoin to be mined in the United States, with the aim of establishing dominance in the energy sector. Trump has also personally engaged with digital assets by launching branded non-fungible tokens and accepting crypto donations for his campaign and affiliated political action committee.
Opposition to CBDCs has been a recurring theme for Trump and other Republicans during the 2024 campaign. While the U.S., China, Europe, and other regions are still in the research phase concerning government-backed digital tokens, Republicans argue that the Democrats’ push for CBDCs may lead to increased financial surveillance of citizens.
Looking ahead to the 2024 election, it is becoming increasingly evident that the Republican Party strongly supports Bitcoin and crypto innovation. This demonstrates a clear trend of embracing digital assets within the RNC, positioning the party as a leader in crypto innovation. This stands in contrast to the more reserved approach taken by the Biden Administration.
