The Stand With Crypto Alliance Gains Support from US Lawmakers
The Coinbase-backed nonprofit Stand With Crypto Alliance has announced that 18 US lawmakers are backing the exchange’s initiative for clearer regulation of digital assets in the country. The advocacy group rates US Senators Ted Cruz (R-Texas) and Cynthia Lummis (R-Wyoming) as “strongly supportive” of crypto, with the two lawmakers having sponsored or co-sponsored a total of eleven crypto bills. Other senators who have received an A score for their supportive stance on crypto include Ted Budd (R-North Carolina), Bill Hagerty (R-Tennessee), Kirsten Gillibrand (D-New York), and more.
Varied Stances on Crypto Among US Senators
While some senators earn an A score, others are rated as “supportive” or even “strongly against” crypto. US Senators John Boozman (R-Arkansas) and Tim Scott (R-South Carolina) receive a B rating, while Elizabeth Warren (D-Massachusetts), Sherrod Brown (D-Ohio), and Roger Marshall (R-Kansas) are scored with an F for their negative stance on crypto. The Stand With Crypto Alliance also evaluates the 2024 US presidential candidates, assigning an A score to Robert Kennedy and Dean Phillips for their strong support, a B to Donald Trump for his supportive position, and a D to President Joe Biden for his against stance on crypto.
Hot Take: Bipartisan Support for Clearer Crypto Regulation in the US
A total of 18 US lawmakers have thrown their support behind Coinbase-backed nonprofit Stand With Crypto Alliance’s call for clearer regulation of digital assets in the country. The advocacy group rates several senators as being “strongly supportive” of crypto, including Ted Cruz and Cynthia Lummis, who have sponsored or co-sponsored numerous crypto bills. However, there are also lawmakers who are either “supportive” or “strongly against” crypto. This development highlights the growing bipartisan interest in addressing the regulatory challenges surrounding cryptocurrencies and demonstrates the need for a cohesive and transparent framework to govern the industry.
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