Republican Party 2024 Platform Includes Cryptocurrency: Opposes CBDC, Defends People's Right to Own Digital Assets

The Republican National Committee (RNC) in the United States passed and released the draft of the 2024 party platform yesterday, reaffirming former President Trump's stance on cryptocurrency. It stated that they will strongly oppose central bank digital currencies (CBDC) and protect the people's rights to mining and holding digital assets.

Republican Party Releases New Party Platform for 2024 After 8-Year Hiatus

In an announcement released on Monday by the RNC, the Republican Party, led by Donald Trump, has updated its party platform for the first time in 8 years. The website lists 20 key policy commitments, including border security, strengthening the military, significant tax cuts, and combating inflation, reaffirming Trump's campaign slogan of "Make America Great Again."

Regarding currency, the platform only states to "maintain the US dollar as the world's reserve currency," without mentioning cryptocurrencies.

However, a more detailed press release on Trump's campaign website reveals digital assets being part of the innovative economic initiatives. The platform is seen as the "Trump version" of America's future policy direction.

Bernstein: With the shift in election sentiment towards the Republican Party, cryptocurrencies will become "Trump trades"

Opposing CBDC, Supporting People's Ownership of Digital Assets

Firstly, the new party platform, based on economic innovation, almost entirely mirrors Trump's friendly stance on cryptocurrencies, emphasizing safeguarding the rights of Americans to own digital assets:

The Republican Party will end the "illegal and un-American crackdown" on cryptocurrencies by the Democrats, oppose the issuance of CBDC, and defend the people's right to mine Bitcoin.

It further states, "We will ensure that Americans have the right to self-custody their digital assets and transact without government surveillance and control."

Repealing Biden's AI Executive Order, Allowing AI to Flourish

In addition, facing the rapid development of artificial intelligence (AI) technology, Trump also stated his intention to repeal the AI executive order issued by President Biden last year, claiming that the law is dangerous and restricts AI innovation:

The executive order imposes radical leftist ideas on the development of this technology, and the Republican Party will support freedom of speech and the prosperity of AI.

It is reported that Biden's AI executive order aims to reduce the risks posed by this technology to people and national security, primarily focusing on basic regulations for data security and privacy protection.

Trump, Quick to Change Stance, Faster Than Turning a Page

During his presidency and before announcing his re-election bid, Trump had called Bitcoin a "scam" and cryptocurrencies a potential "disaster."

However, by 2024, it appears that his stance has shifted. He has ventured into issuing his own NFTs, accepting cryptocurrency donations for his campaign, and actively engaging with individuals in the cryptocurrency industry.

As his opponent, Democratic presidential candidate Biden was criticized for his poor performance in previous debates with Trump, and there were even rumors of his replacement. Biden has acknowledged the need to prove his governing abilities to secure his candidacy but amidst mounting pressure, he emphasizes that he will not withdraw from the race voluntarily.

Amid calls for Biden to drop out, along with a 20% drop in meme coins like "TrumpCoin," could Harris become the successor?