Idaho Republicans Oppose CBDCs, Advocate for Bitcoin

by Oluwapelumi Adejumo | Cryptoslate

The Republican Party of Idaho has vehemently opposed the creation of a Central Bank Digital Currency (CBDC) in the United States, advocating instead for using decentralized digital currencies like Bitcoin.

This stance was outlined in a recent report from the party’s 2024 convention platform committee session. The report stated:

“We oppose the creation of a Central Bank Digital Currency, the regulation and/or excessive taxation of decentralized digital currencies such as Bitcoin, and we affirm the right of individuals to engage in commerce and exchange with cash, barter, precious metals, and decentralized digital currencies.”

The proposal also supported the abolishment of the Federal Reserve Bank, arguing that “the issuing power [should be] restored to the people with the stipulation that the US dollar be backed by gold, and silver, or other stores of value.” Read Full Article >