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The majority of US senators are against cryptocurrencies

The majority of US senators are against cryptocurrencies

A survey by Stand with Crypto, a partner of Coinbase, shows that 18 US senators are currently “pro-crypto,” but the majority are not. Stand with Crypto also shows exactly how pro-crypto the senators are. They base this on the number of pro-crypto bills submitted and the number of crypto bills they submitted.

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  • Government and Regulation

Politics is divided

Of all the senators, Republicans Cynthia Lummis and Ted Burr are the most pro-crypto. Lummis filed eight crypto bills and made 184 crypto declarations. Burr also introduced eight crypto bills and made 25 pro-crypto statements.

Another well-known name on the list is Ted Cruz. He has been an outspoken supporter of the crypto sector for years. Cruz previously worked in the state of Texas but is now a senator.

Of the total 18 pro-crypto senators, 14 are Republicans and 4 are Democrats. Thirty senators are openly against crypto. Of these, 23 are Democrats, 5 are Republicans and 2 are independents. So there is a clear divide between Republicans and Democrats when it comes to crypto sentiment. There are 100 senators in total. Two for each federal state.

The spearhead of anti-crypto senators is Elizabeth Warren. She introduced three anti-crypto bills and made 76 public statements against crypto. Warren has long advocated the use of cryptocurrencies for criminal purposes such as terrorism in the Middle East.

Crypto support is increasing

Current President Joe Biden is considered anti-cryptocurrency. The data also shows that presidential candidates Donald Trump and Robert F. Kennedy are committed to cryptocurrencies. Trump made a notable crypto promise during a speech in New Hampshire last week. He said he would never approve a central bank digital currency (CBDC) if he became president. Read all about it here.

Although the pro-crypto delegation is in the minority in the Senate, the group appears to be growing. A few years ago, a pro-crypto politician was a rarity in America. As the crypto sector grows and adoption increases, political support is expected to continue to increase.

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