Republicans are officially a pro-crypto party in alignment with their Bitcoin-bullish leader, Donald Trump.
The Republican National Committee has released its 2024 GOP Platform ahead of this year’s federal election, adopting several stances aligning with Donald Trump’s “America First” policies instead of traditional GOP social issues.
That includes a specific policy dedicated to protecting Bitcoin and crypto – an industry that Trump has tightly aligned himself with this year.
Republicans Are Officially Pro-Crypto
The party’s dedication to crypto is included in chapter 3 of the platform, which promises to “build the greatest economy in history” by championing innovation, among other things.
“Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency [CBDC],” the party wrote.
The promise comes as no surprise following the partisan passage of Congressman Tom Emmer’s anti-CBDC bill last month, which received almost unanimous Republican backing and near-zero Democrat support in the House.
Around the same time, the House passed legislation to create an accommodating regulatory framework for crypto that all Republicans backed, but which a majority of Democrats opposed.
The GOP platform also promised to defend citizens’ rights to mine their own Bitcoin, to self-custody their crypto, and to 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 on Monday. Taproot Wizards advisor Dan Held called the platform “insanely bullish Bitcoin and crypto.”
Supporting Trump and Innovation
Though the writing was on the wall, the GOP platform marks the Republican’s first official endorsement of crypto as part of its long-term agenda, joining their Presidential candidate Donald Trump’s alignment with the sector.
Throughout this year, Trump has promised to protect the Bitcoin mining industry and stop anti-crypto senator Elizabeth Warren and her like from touching citizens’ crypto assets. He’s also vowed to free Ross Ulbricht – the founder of defunct darknet Bitcoin marketplace Silk Road who has been sentenced to a lifetime in prison.
Republicans also vowed to protect innovation in artificial intelligence (AI), to which several publicly traded Bitcoin miners are growing closely aligned.
“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 document reads. “In its place, Republicans support AI development rooted in free speech and human flourishing.”