The Republican Party has unveiled a draft platform outlining its stance on cryptocurrency and artificial intelligence (AI) issues. The platform, released on July 8, includes a pledge to end what it perceives as the Democrats’ aggressive regulatory actions against cryptocurrencies, which it labels as “unlawful and un-American.” This position is a response to ongoing investigations by the U.S. Securities and Exchange Commission (SEC) into multiple crypto firms, which Republicans criticize as harmful to the industry.
Additionally, the platform asserts the Republicans’ opposition to the creation of a Central Bank Digital Currency (CBDC) and vows to safeguard individuals’ rights to mine Bitcoin and manage their digital assets without government interference or surveillance.
The GOP’s stance mirrors concerns expressed by many in the crypto community regarding privacy and autonomy over digital assets. It contrasts sharply with legislative efforts, such as a previous bill by Senators Elizabeth Warren and Roger Marshall, which sought to impose restrictions on self-custody crypto wallets, a move criticized as unconstitutional.
In parallel, the Republican platform targets President Joe Biden’s executive order on AI, which seeks to set new safety and security standards in AI development. Republicans argue that this executive order stifles innovation and imposes ideological constraints on AI progress. They propose repealing the order to foster AI innovation driven by principles of free speech and human advancement.
Political analysts view the GOP’s pro-crypto and anti-regulatory positions as potentially influential issues in the upcoming presidential election, appealing to voters concerned about economic freedoms and technological innovation.
