The United States’ Republican National Committee (RNC) has recently approved a preliminary version of its policy platform, which notably includes support for cryptocurrencies and Bitcoin (BTC) mining.
In an update on July 8, the campaign website of Republican frontrunner Donald Trump revealed that the RNC draft has undergone a significant shift in the party’s official stance, recognizing crypto as one of the avenues through which Republicans aim to promote innovation in the country’s economy. The platform alleges that Democrats have unlawfully cracked down on cryptocurrencies and pledges to oppose the creation of a Central Bank Digital Currency (CBDC).
The updated platform states, “We will defend the right to mine Bitcoin and ensure that every American has the right to self-custody their digital assets and transact freely without government surveillance and control.”
These changes to the party platform have been made ahead of the RNC’s national convention, set to commence on July 15. It is widely anticipated that Trump will officially secure the nomination for the presidency. Initially, the GOP frontrunner’s sentencing for 34 felony counts in New York was scheduled for July 11, but it has been postponed to September following a Supreme Court decision regarding presidential immunity.
The reasons behind the RNC’s inclusion of a section on cryptocurrencies, which echoes many of Trump’s views, remain unclear. Prior to his reelection announcement, Trump expressed skepticism towards Bitcoin, deeming it “like a scam” and warning of its potential to cause a disaster. However, his campaign for 2024 has taken a different stance, accepting crypto contributions and advocating for the mining of all remaining Bitcoin within the country.
The fact that Trump’s daughter, Lara, has been co-chairing the RNC since March suggests that she may have influenced the party’s platform change. Cointelegraph reached out to the RNC for comment but did not receive a response at the time of publication.
In related news, neither Joe Biden nor Donald Trump have shown themselves to be champions of crypto. They did not discuss digital assets during their face-to-face CNN debate on June 27. Biden’s performance in the debate, characterized by a weaker voice, stumbling through answers, and coughing, has led some to call for him to step aside for another Democratic candidate. However, as of July 8, Biden has expressed his intention to be the party nominee.
The Democratic National Committee is expected to select an official nominee before August 7, which is the deadline for parties to apply and appear on the ballot in Ohio. The party’s convention is scheduled for August 19, approximately 78 days before the U.S. Election Day on November 5.