At least 18 senators in the United States support crypto, according to recent data from Coinbase’s nonprofit advocacy organization Stand with Crypto.
Stand With Crypto shows that Republican senators Cynthia Lumnis and Ted Burr currently stand as the most pro-crypto politicians in the U.S. Senate, with Lumnis touting eight crypto bills and 184 public statements on crypto, while Burr boasts eight bills and 24 statements.
Following close behind Lumnis and Burr are fellow Republicans Ted Cruz and Bill Hagerty, who show a combined five bills and 92 statements. Of the 18 senators that take a favorable stance toward crypto, 14 of them are Republicans. Only four are Democrats.
While 18 senators may “stand with crypto,” there are a total of 30 senators that reportedly stand firmly in opposition. Of the 30 senators that have taken a position against crypto, 23 are Democrats, five are Republicans and two are Independents, according to the tracker.
There are a total of 100 senators in the United States, two for each state.
The tracker also notes that Republican presidential candidate Donald Trump and Independent presidential hopeful Robert F. Kennedy Jr tip toward supporting crypto.
Kennedy has made Bitcoin a core theme of his election campaign and proposed legislation if elected, while Trump recently announced he would not allow for the creation of CBDCs.
Meanwhile, President Joe Biden is listed as “against” crypto on the website, having made five public statements that skew toward a negative stance on digital assets.
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The most notable of the crypto-opposing senators is Elizabeth Warren, who has now backed or introduced a total of three anti-crypto bills, as well as issuing a total of 76 statements against crypto, according to Stand With Crypto data.
A new @USGAO report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security.
It’s time for crypto to follow the same anti-money laundering rules as everyone else. I’ve got a bill to make it happen. https://t.co/TUX2sJ8HR0
— Elizabeth Warren (@SenWarren) January 21, 2024
In July 2023, Warren re-introduced her Digital Asset Anti-Money Laundering Act, which intends to crack down on noncustodial digital wallets, extend Bank Secrecy Act responsibilities, establish an Anti-Money Laundering compliance examination and other legal measures to fight the illicit use of digital money.
While the bill is supported by numerous lawmakers from both sides of the isle, the legislation has received criticism from advocacy groups, which claim it would fail to address the illicit use of digital assets.
In 2023, Warren made a “war on crypto” a key part of her re-election campaign. Since then she has made several public statements that claim that crypto is being used to significantly aid terrorism financing in the Middle East and for illicit activity in general, despite growing evidence to the contrary.
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