Recent data from Coinbase’s advocacy organization, Stand with Crypto, indicates that 18 U.S. senators currently support cryptocurrency. Leading the pro-crypto stance are Republican Senators Cynthia Lummis and Ted Burr, with significant legislative and public statement contributions to the crypto discourse. Other notable supporters include Ted Cruz and Bill Hagerty. The majority of these crypto-supportive senators are Republicans, with 14 out of the 18 being from the Republican Party.
In contrast, 30 senators reportedly oppose cryptocurrency, with a majority being Democrats (23), alongside five Republicans and two Independents. This group includes high-profile figures like Elizabeth Warren, who has been vocal in her criticism of digital assets.
The tracker also highlights the positions of presidential candidates Donald Trump and Robert F. Kennedy Jr., both leaning towards crypto support. Kennedy has integrated Bitcoin into his campaign platform, while Trump has expressed opposition to central bank digital currencies (CBDCs).
President Joe Biden is listed as against crypto, having made several public statements that suggest a negative view of digital assets.
Senator Elizabeth Warren, a prominent figure opposing crypto, has introduced anti-crypto bills and made numerous statements against the use of digital assets. Her Digital Asset Anti-Money Laundering Act aims to regulate noncustodial digital wallets and extend legal measures to combat the illicit use of digital money. Despite bipartisan support, this bill faces criticism from advocacy groups.
In 2023, Warren emphasized a “war on crypto” in her reelection campaign, citing concerns over cryptocurrency’s role in terrorism financing and other illicit activities, despite evidence suggesting otherwise.
The U.S. Senate shows a divided stance on cryptocurrency, reflecting the broader debate over digital assets’ role in the financial system. While a significant number of senators are supportive, a larger group remains skeptical or opposed, often citing regulatory and security concerns. This division underscores the ongoing need for informed dialogue and balanced regulation in the evolving landscape of cryptocurrency.
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