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Trump’s Republican Platform Pledges To Halt Democrats’ “Unlawful And UnAmerican Crypto Crackdown”

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Donald J Trump

Under the leadership of former US President Donald Trump, the Republican National Committee (RNC) unveiled a new policy platform. Central to the 2024 presidential election campaign, the Republican’s platform promises to end what it describes as the Democrats’ “unlawful and unAmerican crypto crackdown.” 

The party’s press release said, “Today, the Republican National Committee (RNC) Platform Committee adopted President Donald J Trump’s 2024 Republican Party Platform with overwhelming support—a pro-American agenda that stands in stark contrast to the record of weakness, failure, and dishonesty created by Joe Biden.”

Trump evolved from being a skeptic to a vocal advocate for crypto. In line with Trump’s pro-crypto stance, the newly adopted platform outlines several key promises aimed at fostering innovation in the crypto space. 

Trump’s Platform Supports Bitcoin Mining 

Trump’s platform not only supports the right to mine Bitcoin, especially in current times when the practice is facing increased scrutiny, but also ensures that Americans can self-custody their digital assets and conduct transactions without government surveillance and control.

His personal engagement with digital assets has also been noteworthy. He has launched several sets of branded non-fungible tokens (NFTs) and announced that his campaign will accept cryptocurrency donations. This move aligns with his broader strategy to embrace digital innovation and appeal to the growing community of crypto enthusiasts

Read more: What are Bitcoin ETFs? A Beginner’s Guide (Updated 2024)

Trump’s platform vows to halt the regulatory actions perceived as hostile to cryptocurrencies, which have been a hallmark of the current administration under President Biden.

Staunch Opposition To CBDCs

However, the platform firmly opposes CBDCs. Republicans argue that such digital currencies could lead to increased financial surveillance by the government. 

This position contrasts sharply with the approaches taken by other jurisdictions, such as China and Europe, which are actively exploring or implementing CBDCs.

Read more: What is Bitcoin? Bitcoin Explained for Beginners (Updated 2024)

The inclusion of pro-crypto language in the Republican platform has significant political and economic implications.  Could a second Trump era boost the prices of assets like gold and crypto ?

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg TV India, CNA Singapore. Akriti’s interest in the cryptocurrency space stems from her writing for Crypto Council for Innovation and Daily Coin. She believes that decentralisation technology has the potential to empower marginalised communities across the world. Entrepreneur Magazine, Hindustan Times, Tech Panda, Hackernoon and other publications have featured Akriti’s writings.

View all Posts by Akriti Seth

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