Trump's Official Republican Platform Pledges to Halt Crypto 'Crackdown'

The Republican National Committee has endorsed a framework that aims to spur innovation in the digital asset space but has not listed it as a top priority.

The Republican National Committee's new policy agenda includes a position supporting cryptocurrencies.

Former President Donald Trump's party is also determined to oppose the introduction of a central bank digital currency.

The Republican Party, led by Donald Trump, has officially adopted a policy strategy that includes the development of cryptocurrency innovation, according to a document published Monday by the US Republican National Committee.

The purpose of the conceptual part of the program is to articulate the party's priorities ahead of the congressional elections in November, as well as to highlight the increasing attention to digital assets from Trump and other GOP politicians.

“Republicans will end the Democrats’ illegal and un-American crackdown on cryptocurrencies and will oppose the creation of a central bank digital currency,” the document notes. “We will defend the right to mine Bitcoin and ensure that every American has the right to independently manage their digital assets and conduct transactions without government oversight or control.”

In recent months, Trump has shifted from his wariness of cryptocurrencies to unwavering support. He also has his own positive experience with digital assets, having released several personal sets of branded non-fungible tokens (NFTs).

The Trump campaign and its associated political committee are also actively accepting donations in the form of cryptocurrencies.

The official publication of the committee's new program listed 20 major policy "promises" without mentioning cryptocurrencies, but digital assets appeared in the "Economy" section under the heading "Innovation Initiatives."

Opposition to central bank digital currencies (CBDCs) has been a popular talking point for Trump and other Republicans during the 2024 election campaign. While other jurisdictions, including China and Europe, are pursuing the idea of ​​government-backed digital tokens, the US has not moved beyond the research phase.

Republicans have accused Democrats of pushing CBDCs, which would allow for greater financial oversight of US citizens. But Federal Reserve Chairman Jerome Powell and other officials insist that the banking system, not the government, would manage such a theoretical digital dollar. And Fed officials said it would not pass without approval from Congress and the White House.