(Kitco News) – The cryptocurrency ecosystem continues to enjoy rising stature in the realm of U.S. politics as the Republican National Committee (RNC) Platform Committee has approved a draft of Presidential candidate Donald Trump’s 2024 Republican Party Platform, which includes support for cryptocurrency innovation.
The platform lays out the party’s priorities ahead of the November election, and for the first time, it reflects their growing commitment to the digital asset sector, a trend that has been rising since 2023.
According to the 2024 GOP Platform Make America Great Again document, Trump and his fellow Republicans want to stop the Democrats' “unlawful” targeting of the crypto sector.
"Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency," the document said. “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.”
Along with crypto and Bitcoin, the topic of CBDCs has become a flash point separating the two sides of the aisle, with Republicans accusing Democrats of pushing for digital fiat to increase financial surveillance of U.S. citizens.
The specific mention of the cryptocurrency industry in the platform represents a notable shift in political discourse and highlights the growing importance of digital assets in mainstream policymaking.
A recent poll from Harris Poll found that 77% of respondents said a U.S. presidential candidate should at least have an “informed perspective” on crypto, while 33% of U.S. voters said they now consider crypto stance when evaluating political candidates.
As the election approaches, the RNC's adoption of a pro-crypto stance could influence voter sentiment and potentially shape the future regulatory landscape for cryptocurrencies, reflecting broader debates about innovation, privacy, and financial freedom in the digital age.
According to The Hill, the RNC platform committee overwhelmingly approved the new draft, which will now face a final vote on Tuesday.
Blockchain for supply chain management
In another pro-crypto development, the U.S. Senate Committee on Armed Services has directed the Secretary of Defense, Retired General Lloyd Austin, to test potential applications of blockchain technology for supply chain management and other national security applications within the U.S. Department of Defense (DOD).
According to the National Defense Authorization Act (NDAA) for fiscal year 2025 report released on July 9, the Committee included multiple authorizations for the Army, Navy, Air Force, and Defense-wide programs.
“The committee acknowledges the potential uses of blockchain technology for broader national security purposes within the defense landscape,” the document said. “As other countries invest in blockchain research and development efforts, it is important that the U.S. retains global leadership in this critical technology.”
“Particularly, the committee notes that data-driven security, transparency, accountability, and auditability of supply chains are critical to U.S. national defense and economic competitiveness,” the report said. “The committee notes that blockchain technology has the potential to enhance the cryptographic integrity of the defense supply chain, improve data integrity, and reduce the risk of the manipulation or corruption of certain types of data by near-peer competitors.”
They also recommended that the DOD “explore the use of blockchain technology to achieve national security goals and to create secure, transparent, accountable, and auditable data related to supply chains.”
“Therefore, the committee directs the Secretary of Defense to provide a briefing to the Senate Armed Services Committee, not later than April 1, 2025, on the potential applications of blockchain technology for supply chain management and other national security applications within DOD,” the document said.
The Committee identified six key findings that need to be included in the briefing, including “An assessment of the potential benefits and risks associated with implementing blockchain technology in supply chain tracking and management; and An analysis of the current state of blockchain adoption in supply chain tracking and other national security applications within DOD and the defense industrial base, including estimates for the resources required for such activities.”
They also want “A plan for pilot programs or research and development efforts to explore the use of blockchain technology in national security applications, including supply chain management, cybersecurity for critical infrastructure assets, and procurement auditability.”
Other requested info includes an analysis of the current state of blockchain adoption in the supply chain industry and foreign countries like China and Russia, and identifying feasibility and cost estimates.
To help codify the integration of blockchain technology into law, the Committee also asked for “Recommendations for legislative or regulatory actions to incorporate blockchain technology to support supply chain transparency and auditability.”
