According to the latest data from the non-profit advocacy organization Coinbase Stand with Crypto, at least 18 US senators support cryptocurrency.
The cryptocurrency stand shows that Republican Senators Cynthia Lamnis and Ted Burr are currently the most pro-cryptocurrency in the US Senate, with Lamnis touting eight cryptocurrency bills and 184 public statements on cryptocurrency, and Burr boasting eight bills and 24 statements.
Following Lumnis and Burr are fellow Republicans Ted Cruz and Bill Hagerty, who have collectively introduced five bills and 92 statements. Of the 18 senators who are positive about cryptocurrency, 14 are Republicans. Only four are Democrats.
While 18 senators may be “pro-crypto,” a total of 30 senators are reported to be firmly in opposition. Of the 30 senators who have spoken out against cryptocurrencies, 23 are Democrats, five are Republicans and two are independents, according to the tracker.
There are 100 senators in the United States, two from each state.
The tracker also notes that Republican presidential candidate Donald Trump and independent presidential candidate Robert F. Kennedy Jr. are leaning toward supporting cryptocurrency.
Kennedy made Bitcoin a major campaign issue and proposed legislation if elected, while Trump recently announced he would not allow the creation of a CBDC.
Meanwhile, President Joe Biden is listed on the website as “against” cryptocurrency, having made five public statements that lean toward a negative stance on digital assets.
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According to Stand With, the most prominent anti-cryptocurrency senator is Elizabeth Warren, who has so far supported or introduced a total of three anti-cryptocurrency bills and has made a total of 76 anti-cryptocurrency statements.
A new @USGAO report confirms that rogue nations are using cryptocurrency to dodge sanctions and undermine our national security.
It's time for cryptocurrency 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 reintroduced her Digital Asset Anti-Money Laundering Act, which intends to crack down on non-custodial digital wallets, expand Bank Secrecy Act obligations, establish anti-money laundering compliance checks and take other legal measures to combat the illegal use of digital money.
While the bill is supported by numerous lawmakers on both sides of the island, it has been criticized by human rights groups who say it will fail to address the problem of illicit use of digital assets.
In 2023, Warren made the “war on cryptocurrencies” a key part of her re-election campaign. Since then, she has made several public statements alleging that cryptocurrency is being used to significantly facilitate the financing of terrorism in the Middle East and illegal activities in general, despite growing evidence to the contrary.
Big questions: How can Bitcoin payments come back?