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Donald Trump’s Official Republican Platform Vows to Stop Crypto ‘Crackdown’ in US
Former President Donald Trump’s Republican Party has officially has adopted a platform that would seek to support cryptocurrency innovation, according to a document released Monday by the Republican National Committee.
The platform aims to establish the party’s priorities as a presumptive candidate for the presidency trump and Republican congressional candidates are gearing up for November elections, reflecting Trump and other GOP politicians’ growing interest in digital assets.
“Republicans will end Democrats’ illegal and un-American crackdown on cryptocurrencies and oppose the creation of a central bank digital currency,” according to the document. “We will defend the right to mine Bitcoin and ensure every American has the right to self-custody of their digital assets and transact free from government oversight and control.”
In recent months, Trump has turned his previous suspicion of cryptocurrencies into firm supportHe also has some personal experience with digital assets, having launched several sets of his own 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 “cryptocurrencies,” but digital assets did appear in the “Economy” section among innovation initiatives.
Opposition to central bank digital currencies (CBDCs) has been a popular talking point for Trump and other Republicans in the 2024 election campaign. While other jurisdictions, including China and Europe, have pursued the idea of government-backed digital tokens, the United States has not advanced beyond the research stage.
Republicans have accused Democrats of pushing CBDCs that would allow for greater financial surveillance of U.S. citizens. But Federal Reserve Chairman Jerome Powell and other government officials have insisted that such a theoretical digital dollar would be run by the banking system, not the government. And Fed officials have said it won’t be adopted without approval from Congress and the White House.
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