Republican Platform Promises to Halt ‘Un-American’ Crypto Crackdown, Opposes Government Digital Currency

The Republican Party, led by former President Donald Trump, has passed a draft that adopts a platform that includes support for digital asset innovation, as well as support for Bitcoin (BTC) mining and a halt on “crypto crackdown”.  

As revealed by the Republican National Committee on Monday, the new platform outlines the party’s priorities as Trump and other Republican candidates prepare for the upcoming November election, highlighting their growing interest in digital assets.

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 Surveillance and Control.

Republican National Committee

The document also highlights the right to mine Bitcoin and ensures Americans can self-custody and trade their crypto without government surveillance.

Related: Trump Victory Could Spark Bitcoin Rally, Report Says

The Crypto Crackdown

The document highlights that the RNC will end Democrats’ “unlawful” crackdown on crypto and oppose the creation of a Central Bank Digital Currency (CBDC). This comes after the US Securities and Exchange Commission (SEC) launched several investigations against multiple crypto companies, like Coinbase.

These changes were made ahead of the RNC’s national convention, starting on July 15, where Trump is expected to be officially nominated for president. Broadly speaking, the RNC’s inclusion of cryptocurrency advocacy aligns with many of Trump’s current views. 

Despite his past criticism of Bitcoin and cryptocurrencies as potentially disastrous, Trump made a 180 on digital assets. 

He said that he wants all remaining Bitcoin to be mined in the US and even launched his own NFT collection last year. His campaign has also begun accepting crypto contributions.

What About AI?

The document also addressed the AI sector, stating that the Republican Party will repeal Biden’s “dangerous Executive Order that hinders AI innovation” and instead will support AI development in the US.

Related: Goldman Sachs, MIT Analysts Split on AI’s Future: Bubble or Breakthrough?

AI is now everywhere, becoming a hot topic in many fields, including cryptocurrencies, given the rise of AI crypto projects like The Graph and Near Protocol. However, experts are at odds with whether AI is just a bubble or the next frontier in tech.