The U.S. Republican Party Officially Declared Its Backing For The Cryptocurrency Industry And Its Stakeholders In Its 2024 Election Manifesto

The new Republican Party Platform, built on former President Donald Trump's vision of “Make America Great Again,” has committed to halt what it referred to

The U.S. Republican Party has officially declared its support for the cryptocurrency industry and its stakeholders in its 2024 election manifesto.

The new Republican Party Platform, which is built on former President Donald Trump’s vision of “Make America Great Again,” includes a commitment to halting what it describes as the “unlawful and un-American crackdown” on the U.S. cryptocurrency industry. This pledge is outlined in a document that was released by Trump's campaign team.

The document includes commitments to “defend the right” to mine Bitcoin (CRYPTO: BTC) and to allow cryptocurrency holders to self-custody their tokens. It also opposes the creation of a Central Bank Digital Currency.

“We will defend the right to… transact free from Government Surveillance and Control,” the document states.

This stance is significant, especially considering that Bitcoin and other major policy issues were notably absent from the first 2024 presidential debate between incumbent Joe Biden and challenger Donald Trump last month.

According to experts, cryptocurrency could become a major election issue this year. Standard Chartered has predicted that Bitcoin's price may reach a new all-time high by August and could hit $100,000 by the U.S. presidential election in November. This optimistic forecast is contingent on President Biden remaining a candidate in the upcoming election, which the market views as being favorable for Donald Trump's chances of winning.

Based on an open letter from President Biden stating that he is not dropping out of the presidential race, the odds of Biden dropping out of the presidential race have dropped to 36%, according to cryptocurrency prediction market Polymarket.

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