Donald Trump: Republican Party Backs Cryptocurrency in New Policy

Sahana Kiran
Source –

The cryptocurrency industry has been taking many under its wing. Donald Trump and current President Joe Biden have recently caught the cryptocurrency bug. According to a document made public by the Republican National Committee on Monday, Donald Trump has doubled down on his interest in the cryptocurrency space. His party has formally adopted a policy that aims to encourage innovation in the space. The document read,

“Republicans will end Democrats’ unlawful and unAmerican Cryptocurrency crackdown and oppose the creation of a Central Bank Digital Currency. 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 highlights Trump as well as the other lawmakers’ growing interest in these assets. The presidential candidate has been preparing for the November elections in several different ways and this is one among them. Although it wasn’t listed among the top 20 policy pledges, cryptocurrency was mentioned under innovative efforts in the economic section.

Also Read: Trump’s Crypto Strategy Earns Cathie Wood’s Vote

No CBDC But Cryptocurrency Shines

Trump has talked about central bank digital currencies, or CBDCs, a lot during the 2024 election campaign. The United States has been trapped in the research stage while other nations have aggressively promoted the idea of government-backed digital tokens. Republicans claim that Democrats are promoting CBDCs, which would allow for more thorough financial surveillance of US citizens. In addition, Donald Trump was also seen advocating for Bitcoin mining within the US.

Michael Whatley, the Chairman of the Republican National Committee [RNC], said,

“Only President Trump can restore our economy, restore our Southern Border, and restore America’s standing in the world.”

Also Read: Donald Trump to Spark a Bitcoin Rally in the Second Half of the Year if Elected