18 US senators now ‘stand with crypto’ — Coinbase lobby group
At least 18 senators in the United States support crypto, according to Coinbase's non-profit advocacy organization Stand with Crypto.
According to Stand With Crypto, Republican Senators Cynthia Lamnis and Ted Burr stand as the most pro-crypto politicians in the US Senate.
Following closely behind Lumnis and Burr are Republicans Ted Cruz and Bill Hagerty, with five bills and 92 statements. Of the 18 senators who take a positive stance on crypto, 14 are Republicans. Democrats are the only four.
Although 18 senators can “stand with the crypt”, a total of 30 senators stand firmly against the opposition. Of the 30 senators who have taken a stance on 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 noted Republican presidential candidate Donald Trump and independent presidential hopeful Robert F. Kennedy Jr.'s tips to support crypto.
Kennedy proposed legislation that made bitcoin a central theme of his election campaign, and Trump recently announced that he would not allow the creation of CBCCs.
Meanwhile, President Joe Biden has been listed as “in opposition” on the website after making five public statements negative about digital assets.
Related: $3.1T of Illicit Funds Flowed Through Global Financial System by 2023
Elizabeth Warren, the most prominent of the anti-crypto senators, has currently sponsored or introduced a total of three anti-crypto bills and issued a total of 76 statements on crypto, according to Stand With Crypto data.
A new @USGAO report confirms that rogue governments are using crypto to evade sanctions and undermine our national security.
It's time for crypto to follow the same anti-money laundering laws as everyone else. I have a bill to make it happen. https://t.co/TUX2sJ8HR0
— Elizabeth Warren (@SenWarren) January 21, 2024
In the year In July 2023, Warren re-introduced the Digital Assets Anti-Money Laundering Act, which aims to crack down on unregulated digital wallets, extend the responsibilities of the Bank Secrecy Act, investigate anti-money laundering compliance and other legal measures to combat the illegal use of digital currency.
While the bill is supported by many lawmakers on both sides of the island, it has drawn criticism from advocacy groups who say the law fails to address the illegal use of digital assets.
In the year Warren has made the “war on crypto” a key part of her 2023 re-election campaign. Since then, she has made several public statements claiming that crypto is being used to help finance terrorism and illegal activities in general in the Middle East.
Big questions: How can Bitcoin payments generate returns?
