The Republican Party of the United States releases a draft of its platform: Trump vows to end the "illegal crackdown" on the cryptocurrency industry and defend Bitcoin mining
The year 2024 is a major election year globally, with nearly half of the world's population participating in elections in 64 countries. In this year's elections, cryptocurrency, especially Bitcoin, is becoming a key issue.Author: Chloe, PANews
The Republican National Committee released the official party platform for the 2024 U.S. election on Monday (July 8), expressing support for several cryptocurrency-friendly policies. The document is boldly titled "Make America Great Again," and unlike the lengthy articles of past platforms, this update simplifies the content into ten easily understandable chapters for voters.
Among the pledges in the Republican platform is a commitment to end the "illegal and un-American crackdown" on the U.S. crypto industry. In addition to opposing the creation of a U.S. central bank digital currency (CBDC), the platform promises to defend the rights of Bitcoin miners and "allow cryptocurrency holders to self-custody their tokens." The document states, "We will defend the people's right to trade without government oversight and control."
Eight-Year Absence of Platform Update to End Democratic Party's "Illegal and Un-American" Suppression
From July 15 to 18, the Republican Party will hold its national convention in Milwaukee, Wisconsin. This convention will not only formally confirm Trump as the candidate for the 2024 presidential election but will also adopt and announce the new party platform, drawing global attention.
Since 2016, the Republican Party has been using the old platform, making this year's update particularly noteworthy. The new platform is seen as a "Trump version" of America's future policy blueprint, and with Trump's national poll numbers significantly ahead after the debates, its content has garnered widespread attention and will profoundly influence the political direction of the Republican Party.
The 2024 platform, titled "Make America Great Again," specifically dedicates its content to those "forgotten American men and women," and outlines the entire platform in a list format, including ten easily understandable chapters such as "Combat Inflation," "Secure the Border to Stop the Immigration Surge," "Build the Strongest Economy in History," "Achieve the American Dream," and "Protect American Workers and Farmers."
In the third chapter, "Build the Strongest Economy in History," the Republican economic policy is based on five pillars: reducing regulations, making Trump-era tax cuts permanent while eliminating the tip tax, implementing fair and reciprocal trade agreements, ensuring reliable and affordable low-cost energy, and promoting innovation. Additionally, the Republican Party emphasizes three areas for innovation: cryptocurrency, AI, and space exploration.
Regarding cryptocurrency, the Republicans state that they will end the Democratic Party's "illegal and un-American" crackdown and oppose the creation of a U.S. central bank digital currency (CBDC). They will also defend the rights of Bitcoin miners and ensure that individuals have the right to self-custody their crypto assets without government surveillance and control over cryptocurrency transactions. On AI, the Republicans express their intention to abolish the current President Biden's dangerous policies that hinder AI innovation, supporting instead the development of AI technologies based on free speech and human prosperity.
Opposition to central bank digital currencies (CBDCs) has been one of the key positions of Trump and the Republican Party in the 2024 election campaign, as they fear that a U.S. CBDC could be used to control American citizens. Republican Congressman Tom Emmer from Minnesota previously introduced the "CBDC Anti-Surveillance State Act," primarily aimed at stopping the U.S. central bank from continuing to develop a "digital dollar." Emmer's proposal stems from concerns that financial transactions could be subject to extensive government oversight.
He stated, "CBDCs are completely government-controlled currency, and they could even give the federal government the opportunity to investigate the transaction information of American citizens."
2024 is a Global Election Year, Cryptocurrency Support Becomes Key to Winning
2024 is a significant global election year, with nearly half of the world's population participating in elections across 64 countries. In this year's elections, cryptocurrency, especially Bitcoin, is becoming a key issue. Currently, candidates who support cryptocurrency have a higher election rate; for instance, in Latin America, candidates advocating for Bitcoin have achieved significant victories in elections in El Salvador and Argentina.
In the U.S., although both the Democratic and Republican parties have voices for and against cryptocurrency, the Republican Party seems to lean more towards supporting it, while the Democratic Party remains relatively cautious.
However, CCN also notes that while Trump recently positioned himself as a cryptocurrency advocate at a fundraising event in San Francisco, he has yet to detail specific policies regarding cryptocurrency that he would implement if elected, aside from declaring his intention to free Ulbricht. Nonetheless, it is undeniable that this year's elections will set the tone for how digital assets will be regulated in the coming years, and many candidates are recognizing their growing influence and importance.
