Republican National Committee pledges to “defend the right to mine Bitcoin”

The Republican National Committee (RNC) has just adopted a platform that plans to boost cryptocurrency mining and oppose the creation of a CBDC.

The Republican National Committee, led by Michael Whatley and Donald Trump’s daughter-in-law Lara Trump, has officially adopted its election platform, which includes a section on cryptocurrency innovation. The platform was launched on Monday as the party prepares for the November election.

“Republicans will end the Democrats’ illegal and un-American crackdown on cryptocurrencies and oppose the creation of a central bank digital currency (CBDC),” the document states. “We will defend the right to mine bitcoin and ensure that all Americans have the right to self-custody their digital assets and conduct transactions free from government surveillance and control.”

This platform reflects the growing interest in digital assets among Trump and other Republican politicians.

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Digital assets featured prominently in the platform's “economic section” as part of innovation initiatives. The platform's committee overwhelmingly approved the new draft, with a final vote scheduled for Tuesday.

Trump and cryptocurrencies

This move marks a significant shift for Trump, who had previously expressed skepticism towards cryptocurrencies but has emerged as a staunch advocate of them in recent weeks. On June 10, Donald Trump announced that he wanted all remaining bitcoins (btc) to be mined in the United States, in the hopes that the country could dominate the energy sector.

Trump has also personally interacted with digital assets, launching several sets of branded non-fungible tokens and accepting cryptocurrency donations for his campaign and its affiliated political action committee.

CBDC

Opposition to CBDCs has been a recurring theme for Trump and other Republicans during the 2024 campaign. The US remains in the research phase, as are other regions including 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.

Looking ahead to the 2024 election, the Republican Party’s strong support for bitcoin and cryptocurrency innovation is becoming increasingly apparent. This demonstrates a clear trend towards supporting digital assets within the RNC, paving the way for the party to be seen as a leader in cryptocurrency innovation.

This contrasts with the more reserved approach taken by the Biden administration.