USA: Draft Republican Party platform with pro-Bitcoin stance

Yesterday, the Republican Party presented its draft party platform at the national level. This also explicitly reflects the pro-Bitcoin stance of the Republicans, who may well be the next US president in Donald Trump.

In the third chapter, which deals with the policy program for the economy, the fifth sub-item "Champion Innovation" contains clear statements that classify Bitcoin, but also financial privacy, as something that needs to be protected.

Republicans will pave the way for future Economic Greatness by leading the World in Emerging Industries. 

Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. 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.
_{From the draft}

The proposal for the party platform comes from presidential candidate Trump and his team. According to an attendee, the "2024 Republican Convention Platform Committee" voted 84:18 in favor of this draft. Next week, the Republican National Convention will make the final decision on the party platform, which is currently being considered in the leading media primarily due to its more liberal than expected stance on abortion.

Pro-Bitcoin statements have been increasingly heard from the ranks of the Republican Party for several months now. At the center of this is the next US President Donald Trump, according to the betting markets. The 78-year-old has repeatedly emphasized that he wants to end the Democrats' war on "crypto" and ensure that the future of Bitcoin and Co. is made in the US - also to gain an advantage over other countries. In addition, Trump also spoke out in favor of Bitcoin mining and expressed his desire for all future Bitcoin to be "mined" in the USA - Blocktrainer.de reported.

At the Libertarian National Convention at the end of May this year, the ex-president also spoke out in favor of the right to self-custody of crypto-assets and against the introduction of a central bank digital currency.

Donald Trump's previous positions are reflected virtually one-to-one in his draft for the national party platform. One small but important addition, however, is the demand that US citizens should be able to carry out transactions with their crypto assets "free from government surveillance and control". This suggests that the Republicans and presidential candidate Trump will also increasingly campaign for financial privacy.

Just a few months ago, the US judiciary took action against the operators of services designed to anonymize Bitcoin transactions - Blocktrainer.de reported. In general, there is a discernible trend in the West towards the criminalization of exchange transactions that cannot be traced by the state. In Germany, the CDU/CSU parliamentary group in the Bundestag proposed a law aimed at banning unidentifiable crypto transactions as well as the exchange of Bitcoin and Co. for cash. Meanwhile, Western decision-makers are also continuing to lower the upper limits for anonymous cash payments.

At the moment, it looks as if Donald Trump, who is now clearly in favor of Bitcoin, will become the next US president. As is so often the case, however, it remains to be seen whether he will only pay lip service or whether the 78-year-old will actually take steps to protect Bitcoin and the financial privacy of Americans.

In any case, it is positive that Bitcoin has already arrived in the political arena of the world's most relevant economy 15 years after the network was launched. Satoshi Nakamoto's creation is even such a central issue for the Republicans that it is likely to find a prominent place in the election platform. Due to the developments of recent weeks and months, leading US media outlets are already speculating about whether the USA could build up strategic stocks of Bitcoin - Blocktrainer.de reported.

It remains to be seen whether the passage in question will be included unchanged in the official party platform next week.