MAGA to the Rescue – Trump Vows to Stop Crypto “Crackdown”

The Republican Party, led by former President Donald Trump, has unveiled a platform supporting cryptocurrency innovation, detailed in a document from the Republican National Committee.

This platform outlines key priorities for Trump and GOP congressional candidates for the November election, reflecting a growing interest in digital assets within the party.

The document pledges to end what it calls the Democrats’ “unlawful Crypto crackdown” and opposes the creation of a Central Bank Digital Currency (CBDC). It also supports Bitcoin mining, self-custody of digital assets, and transaction freedom from government surveillance.

Trump, who once doubted cryptocurrencies, now supports them and has launched his own NFTs. His campaign and an affiliated political action committee accept crypto donations.

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While the committee’s announcement highlighted 20 policy promises, digital assets were included in the economy section under innovation initiatives.

Republicans, including Trump, oppose CBDCs, arguing they lead to increased financial surveillance. Federal Reserve Chair Jerome Powell and others have stated that any digital dollar would require Congressional and White House approval and be managed by the banking system.

Alexander Stefanov