On July 8, a Republican National Committee (RNC) panel approved a draft platform addressing cryptocurrency and artificial intelligence (AI) policies. The draft received significant support, passing with 84 votes in favour and 14 against. This platform awaits a final vote at the upcoming convention.
The Republican party’s draft platform takes a strong stance against the current administration’s approach to cryptocurrency. It aims to “end Democrats’ unlawful and un-American Crypto crackdown” and opposes the creation of a central bank digital currency (CBDC). The platform also seeks to:
- Protect Bitcoin mining rights
- Safeguard the right to self-custody cryptocurrency
- Ensure the right to perform transactions without government control and surveillance
AI Policies: Repealing Biden’s Executive Order
The draft platform also targets President Joe Biden’s executive order on AI, describing it as “dangerous” and restrictive to AI innovation. The Republican party intends to repeal this order and support AI development rooted in “Free Speech and Human Flourishing.” The platform criticizes Biden’s order for allegedly imposing “Radical Leftwing ideas.”
More Details on the Draft Platform
The draft platform aligns closely with the views of Donald Trump, the presumptive Republican presidential nominee. Trump has been vocal about his opposition to CBDCs and has advocated for the US to dominate Bitcoin mining, seeing it as a protection against CBDCs.
In recent events in San Francisco and Wisconsin, Trump pledged to counter the Democratic party’s anti-crypto policies and oppose Biden’s executive order on AI. He emphasized the need to ban the use of AI for censoring American citizens’ speech.
Biden’s executive order on AI focuses on advancing AI responsibly while protecting rights and privacy. It aims to establish standards for AI development that ensure safety and ethical considerations.
