Key Insights
- Republican Party incorporates pro-crypto policies in its 2024 election platform, promising to end the “crackdown” on the U.S. crypto industry.
- GOP pledges to defend bitcoin mining rights, support self-custody of digital assets, and oppose the creation of Central Bank Digital Currencies.
- Trump campaign’s crypto-friendly stance includes recent meetings with bitcoin miners and public support for crypto-related issues, aiming to attract pro-crypto voters.
WASHINGTON (MarketsXplora) – The Republican Party has officially incorporated support for cryptocurrency companies and holders into its platform for the 2024 U.S. elections, signaling a strategic move to court crypto-friendly voters.
The “Make America Great Again” Republican Party Platform, released on Monday by presumptive nominee Donald Trump’s campaign, pledges to end what it terms an “unlawful and un-American crackdown” on the U.S. crypto industry.
In a comprehensive approach to crypto policy, the GOP platform promises to “defend the right to mine bitcoin” and protect crypto holders’ ability to self-custody their digital assets. The document also takes a firm stance against the development of Central Bank Digital Currencies (CBDCs).
“We will defend the right to… transact free from Government Surveillance and Control,” the platform states, underscoring the party’s commitment to financial privacy.
This formal inclusion of crypto-related issues follows a series of pro-crypto gestures from the Trump campaign. In May, at a Washington D.C. political convention, Trump pledged to free Silk Road creator Ross Albright and voiced support for self-custody of digital assets, addressing an enthusiastic crowd that included Libertarians and crypto advocates.
Sources close to the matter reported that Trump subsequently met with several bitcoin miners at his Mar-a-Lago estate in Palm Beach, Florida, to discuss crypto mining policies and regulations.
As the 2024 presidential race heats up, the GOP’s embrace of crypto-friendly policies appears to be a calculated effort to differentiate itself and appeal to a growing demographic of tech-savvy voters concerned about financial freedom and innovation.
Read also! Bernstein: Republican Win May Boost Crypto as Top ‘Trump Trade’
The move sets the stage for crypto policy to potentially become a significant point of contention in what is already shaping up to be a fiercely contested election.