The Republican Party, whose informal leader is former US President Donald Trump, has presented a draft party platform in support of the development of a national digital asset industry.

The draft states that in response to the Biden administration and the U.S. Securities and Exchange Commission (SEC)’s damaging crackdown on numerous U.S. cryptocurrency companies, “Republicans will end Democrats’ illegal and un-American crackdown on cryptocurrencies and oppose the creation of a central bank digital currency.”

The Republican Party intends to actively oppose the “unconstitutional” attempts of Senators Elizabeth Warren and Roger Marshall to impose legislative restrictions on crypto wallets, mining and the circulation of digital assets.

“We will protect the right to mine Bitcoin and ensure that every American has the right to independently store their digital assets and conduct transactions without government oversight and control,” the party’s platform draft says.

Political analysts suggest that the Republicans’ position could bring them victory in the elections, as it coincides with the opinion of most cryptocurrency supporters and could also resonate with ordinary American citizens. Some of them also oppose the launch of a central bank digital currency (CBDC) in the country due to concerns about surveillance and the possibility of invasion of privacy.