Republican Party Platform: Support for Cryptocurrency

Date: 2024-07-09 Author: Henry Casey Categories: CRYPTO PAYMENTS
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The Republican National Committee included several initiatives in its platform aimed at supporting cryptocurrency companies and digital asset holders. These initiatives reflect the party's efforts to create an enabling environment for the crypto industry in the United States.

Platform Promises

The GOP platform, titled “Make America Great Again,” promises to end “illegal and un-American repression” against the crypto industry. A white paper released by Republican presidential candidate Donald Trump's campaign emphasizes the need to protect the rights of crypto enthusiasts and businesses.

Support for Bitcoin Mining Rights and Self-Custody

One of the key points of the platform is the protection of the right to mine bitcoins. Republicans promise to ensure that cryptocurrency holders can independently store their tokens without government intervention. The party also intends to oppose the creation of a Central Bank Digital Currency (CBDC), protecting the right of citizens to conduct transactions without government oversight and control.

The inclusion of cryptocurrency issues in the party platform follows a series of high-profile statements by Donald Trump. In May, Trump promised to free Silk Road creator Ross Albright and expressed support for self-custody of digital assets at a political convention in Washington. A few weeks later, he met with Bitcoin miners to discuss cryptocurrency mining and cryptocurrency policy.

Countering Repression

The Republican Party declares its intention to oppose any repressive measures directed against the crypto industry. They argue that current policies harm innovation and freedom, promising to create a freer and more supportive environment for the development of cryptocurrency technologies.

The initiatives included in the Republican Party platform highlight their commitment to supporting the crypto industry and protecting the rights of digital asset holders. These measures are aimed at creating an enabling environment for the development of cryptocurrencies in the United States, reflecting the party's broader goal of promoting innovation and economic freedom.
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