The Republican Party has officially embraced a pro-crypto stance, aligning with their Bitcoin-supportive leader, Donald Trump.
The Republican National Committee has unveiled its 2024 GOP Platform in preparation for this year’s federal election, reflecting several of Donald Trump’s “America First” policies rather than traditional GOP social issues.
This platform includes a policy dedicated to safeguarding Bitcoin and cryptocurrency, an industry Trump has prominently supported this year.
Republicans Are Officially Pro-Crypto
The party’s commitment to cryptocurrency is highlighted in chapter 3 of the platform, which aims to “build the greatest economy in history” by promoting innovation.
“Republicans will end Democrats’ unlawful and unAmerican crypto crackdown and oppose the creation of a Central Bank Digital Currency (CBDC),” the platform states.
This stance follows the recent passage of Congressman Tom Emmer’s anti-CBDC bill, which received overwhelming Republican support but minimal backing from Democrats in the House.
Additionally, the House recently approved legislation to establish a favorable regulatory framework for crypto, with unanimous Republican support and significant Democratic opposition.
The GOP platform also promises to defend citizens’ rights to mine Bitcoin, self-custody their crypto, and ensure all Americans can “transact free of government surveillance and control.”
“Couldn’t really ask for anything more,” tweeted Nic Carter, partner at Castle Island Ventures, regarding the platform. Taproot Wizards advisor Dan Held called the platform “insanely bullish for Bitcoin and crypto.”
Supporting Trump and Innovation
Though anticipated, the GOP platform marks the party’s first official endorsement of crypto as part of its long-term agenda, aligning with Presidential candidate Donald Trump’s support for the sector.
Throughout the year, Trump has pledged to protect the Bitcoin mining industry and oppose anti-crypto figures like Senator Elizabeth Warren. He has also vowed to free Ross Ulbricht, the founder of the defunct darknet Bitcoin marketplace Silk Road, who is serving a life sentence.
The Republicans have also committed to protecting innovation in artificial intelligence (AI), with several publicly traded Bitcoin miners closely involved in this sector.
“We will repeal Joe Biden’s dangerous executive order that hinders AI innovation and imposes radical leftwing ideas on the development of this technology,” the platform declares. “In its place, Republicans support AI development rooted in free speech and human flourishing.”
