18 US Senators Support Cryptocurrency

18 US senators support Cryptocurrency with Republicans Cynthia Lumnis and Ted Burr leading in pro-crypto stances.

According to recent data from the n onprofit advocacy organization Stand with Crypto which is affiliated with Coinbase, there are at least 18 US senators who are in favor of cryptocurrency.

Stand With Crypto demonstrates that Republican senators Cynthia Lumnis and Ted Burr are currently the most pro-crypto politicians in the United States Senate.

Lumnis has introduced eight crypto laws and made 184 public statements on the subject of crypto, while Burr has introduced eight measures and made 24 statements.

Following closely after Lumnis and Burr and fellow Republicans Ted Cruz and Bill Hagerty who have a combined total of five measures and 92 remarks on their legislative agenda.

The Republican Party is represented by fourteen of the eighteen senators who have a positive attitude toward cryptocurrency. Just four of them are Democrats.

There are a total of 30 US senators who are fiercely opposed to cryptocurrency, although approximately eighteen senators may “stand with crypto.”

According to the tracker, out of the 30 US Senators who have taken a stance against cryptocurrency 23 are Democrats, 5 are Republicans and 2 are Independents. In the United States, there are 100 senators with two US Senators representing each state.

In addition, the tracker notices that both Donald Trump, a contender for the Republican presidential nomination and Robert F. Kennedy Jr., a candidate for the Independent presidential nomination, favor cryptocurrency.

Recently, Donald Trump announced his opposition to the development of CBDCs, while John F. Kennedy centered his election campaign around Bitcoin and proposed legislation as a potential vice president.

Furthermore, the website categorizes President Joe Biden as “against” cryptocurrency. He has made five public statements with a negative attitude toward digital assets.

The senator who is most prominent among those who are opposed to cryptocurrencies is Elizabeth Warren. Stand With Crypto’s data shows that Warren has supported or presented a total of three anti-crypto measures and issued 76 statements against cryptocurrencies.

Warren reintroduced the Digital Asset Anti-Money Laundering Act in July 2023. This legislation aims to extend the responsibilities of the Bank Secrecy Act, crack down on noncustodial digital wallets, establish an anti-money laundering compliance examination and take other legal measures to combat the illegal use of digital money.

Although the bill has garnered support from many senators on both sides of the aisle, advocacy groups have voiced their disapproval of the legislation, arguing that it will not adequately address the illegal use of digital assets.

In 2023, Warren established a “war on crypto” as a central component of her re-election campaign. Since then, she has repeatedly made public statements asserting that cryptocurrency significantly aids in financing terrorist activities in the Middle East and illegal behavior in general despite accumulating evidence to the contrary.