Data Reveals 18 US Senators Support Crypto
Data from Coinbase’s non-profit advocacy group, “Stand With Crypto,” shows that at least 18 United States senators are in favor of cryptocurrencies. This group aims to promote clear and sensible regulations for the crypto industry, mobilizing the 52 million crypto owners in the US, who are predominantly young and diverse. However, there are still 30 senators who remain opposed to crypto.
Pro-Crypto Republican Senators Lead the Way
Among the pro-crypto senators, Republican senators Cynthia Lummis and Ted Budd stand out. Lummis and Budd have introduced several crypto bills and have made numerous public statements in support of the industry. Lummis, in particular, is actively working to establish regulatory frameworks that encourage the growth of the crypto sector within the US. Additionally, Senator Kirsten Gillibrand, a Democrat, teamed up with Lummis to introduce the “Responsible Financial Innovation Act.”
Majority of Opposition Comes from Democrats
Of the senators opposed to crypto, the majority are Democrats. Notable anti-crypto politicians include President Joe Biden and Senator Elizabeth Warren. Warren has been vocal in her criticism of the industry and recently expressed disapproval of the SEC’s decision to approve Bitcoin ETFs. Republican Senator Roger Marshall has also aligned himself with Warren by co-sponsoring her “Digital Asset Anti-Money Laundering Act.”
Surprising Support from Republican and Independent Figures
The data also reveals unexpected support for crypto from Republican presidential candidate Donald Trump and Independent presidential hopeful Robert F. Kennedy Jr.
Hot Take: Crypto Alignment Grows in US Senate
The latest data from Coinbase’s “Stand With Crypto” initiative shows a positive trend with an increasing number of US senators supporting cryptocurrencies. This is encouraging news for the crypto industry as it strives for clear regulations and wider acceptance. However, significant opposition remains, particularly from Democratic senators. This ongoing divide highlights the need for further dialogue and education about the benefits and potential of cryptocurrencies. It will be interesting to see how these numbers evolve in the future and how they may impact the regulatory landscape surrounding crypto in the US.
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