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Republican Party Backs Cryptocurrency in New Policy
The cryptocurrency industry has taken many under its wing. Donald Trump and current President Joe Biden have recently been infected by the cryptocurrency virus. According to a document released by the Republican National Committee on Monday, Donald Trump has doubled down on his interest in the cryptocurrency space. His party has formally adopted a policy aimed at encouraging innovation in the space. The document reads:
“Republicans will end Democrats’ illegal and un-American crackdown on cryptocurrencies and oppose the creation of a central bank digital currency. 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.”
This highlights Trump and other lawmakers’ growing interest in these activities. The presidential candidate has been preparing for the November election in several ways, and this is one of them. Although it was not listed among the top 20 political endeavors, cryptocurrency was mentioned among the innovative efforts in the economic section.
Read Also: Trump’s Crypto Strategy Wins Cathie Wood’s Vote
No CBDC but cryptocurrency shines
Trump has talked a lot about central bank digital currencies, or CBDCs, during the 2024 election campaign. The United States has been stuck in the research phase while other nations have aggressively promoted the idea of government-backed digital tokens. Republicans say Democrats are pushing CBDCs, which would allow for more thorough financial surveillance of US citizens. Additionally, Donald Trump has also been seen advocating Bitcoin mining in the United States.
Michael Whatley, Chairman of the Republican National Committee [RNC], She said,
“Only President Trump can restore our economy, restore our southern border, and restore America’s reputation around the world.”
Also Read: Donald Trump to Spark Bitcoin Rally in Second Half of Year If Elected