The Republican National Committee (RNC) has adopted a platform aimed at boosting crypto mining and opposing the creation of a Central Bank Digital Currency (CBDC). This move, led by Michael Whatley and Lara Trump, reflects the party’s increasing interest in digital assets as they prepare for the upcoming election.

The platform, released on Monday, states, “Republicans will end Democrats’ unlawful and un-American Crypto crackdown and oppose the creation of a Central Bank Digital Currency (CBDC). 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.”

This policy shift signifies a growing focus on crypto innovation among GOP politicians. Digital assets were prominently featured in the platform’s economy section as part of their innovation initiatives. The platform committee overwhelmingly approved the new draft, which is set for a final vote on Tuesday.

Trump and Crypto

This change marks a significant shift for Donald Trump, who previously expressed skepticism towards cryptocurrency but has now become a vocal advocate. On June 10, Trump announced his desire for all remaining Bitcoin (BTC) to be mined in the United States, aiming for the country to dominate the energy sector. He has also engaged with digital assets by launching branded non-fungible tokens (NFTs) and accepting crypto donations for his campaign and affiliated political action committee.

Opposition to CBDCs

Opposing CBDCs has been a recurring theme for Trump and other Republicans during the 2024 campaign. The U.S. remains in the research phase, similar to other regions like China and Europe, as they explore government-backed digital tokens. Republicans argue that Democrats’ push for CBDCs could lead to increased financial surveillance of citizens.

The Republican Party’s strong support for Bitcoin and crypto innovation is becoming increasingly evident as we approach the 2024 election. This trend positions the RNC as a leader in crypto innovation, contrasting with the more reserved approach taken by the current administration.

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