The Republican National Committee (RNC) has adopted a new policy platform that includes initiatives to support cryptocurrency innovation, as revealed in a document released on Monday.
The platform emphasizes the party's commitment to advancing digital assets and opposing a central bank digital currency (CBDC).
Former President Donald Trump's Republican Party aims to create a favorable environment for crypto.
This platform outlines the party's priorities as former President Donald Trump and Republican congressional candidates approach the November election. It highlights Trump's and other GOP politicians' growing interest in digital assets.
"Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency," the document states. "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."
Trump has recently shifted from skepticism to strong support of cryptocurrency, even launching his own sets of branded non-fungible tokens (NFTs). His campaign and an associated political action committee also accept crypto donations.
Although the new platform lists 20 top policy priorities, it does not include the crypto initiative among them. However, the commitment to digital assets appears in the section on economic innovation.
Opposition to CBDCs is a prominent topic for Trump and other Republicans in the 2024 campaign. While other regions, such as China and Europe, have moved forward with government-backed digital tokens, the U.S. remains in the research phase.
Republicans accuse Democrats of advocating for CBDCs that could increase financial surveillance of U.S. citizens. Federal Reserve Chair Jerome Powell and other officials have countered that any digital dollar would be managed by the banking system, not the government, and would require Congressional and White House approval before adoption.
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