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09/07/24
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U.S. Republican National Committee to Advocate for Crypto and Bitcoin Mining
The U.S. Republican National Committee (RNC) has reportedly passed a draft of a policy platform that includes advocating for crypto and Bitcoin mining. An update provided on Donald Trump’s website on July 8 shows that cryptocurrency is among the means intended by Republicans to facilitate innovation in the United States economy.
According to the policy platform, Democrats had carried out an “unlawful” crackdown on cryptocurrency, promising not to allow the creation of a Central Bank Digital Currency (CBDC).
“We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control,” reads the update.
This comes as the RNC prepares for its national convention scheduled to start on July 15 and Donald Trump is expected to be officially nominated for United States president. Trump, who was convicted of 34 counts of charges in New York, was supposed to be sentenced on July 11 but has been postponed to September after a Supreme Court opinion on presidential immunity.
Trump, who previously said Bitcoin seemed “like a scam” and that cryptos were “potentially a disaster waiting to happen” changed his tone after his re-election bid commenced in recent times.
Trump recently announced support for blockchain innovation and crypto, with some other candidates also promising support if elected. Trump said he had no problem with the continuous growth of the crypto industry, emphasizing that the U.S. must embrace innovation and not allow other countries to lead.
His comments and support for the cryptocurrency industry were followed by President Biden reportedly reaching out to players within the industry asking for their input towards future cryptocurrency-related policies.
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