According to analysis by Coinbase lobby group ‘Stand with Crypto’, a total of 18 senators are now pro-cryptocurrency. Developments in the USA play an important role in the future of the crypto world. Therefore, the increase in the number of pro-crypto senators is positive for the market. Meanwhile, one of the presidential candidates, Robert F. Kennedy Jr., made new statements about cryptocurrencies.
Cryptocurrency advocates in the US Senate are gaining ground!
cryptokoin.comAs you follow from , the US’s attitude towards the cryptocurrency world is creating fluctuations in the market. In particular, lawsuits filed by the Securities and Exchange Commission (SEC) put pressure on the market. That’s why every gain on the regulatory front matters. Crypto advocates are gaining ground in the US Senate, according to the latest report from Stand With Crypto. In particular, Republican senators Cynthia Lumnis and Ted Burr stand out as the most pro-crypto politicians in the Senate right now. Lumnis has introduced eight crypto bills and 184 public statements about crypto. Burr followed with eight bills and 24 statements.
Close behind Lumnis and Burr are Republicans Ted Cruz and Bill Hagerty. They also published five draft laws and 92 declarations. Of the 18 senators who support crypto, 14 are Republicans and only four are Democrats. 18 senators support the “cryptocurrency world.” However, there are a total of 30 senators who are firmly opposed. This shows that the power is still with crypto opponents. According to Stand With Crypto, of the 30 senators who take positions against crypto, 23 are Democrats, 5 are Republicans, and 2 are Independents.
Trump and Kennedy support, Biden opposes
There are 100 senators in the US Senate, two for each state. Stand With Crypto also notes that Republican presidential candidate Donald Trump and Independent presidential candidate Robert F. Kennedy Jr. tend to support crypto. Kennedy made Bitcoin the main theme of his election campaign. Moreover, he promised regulation if elected. Trump recently announced that he will not allow the creation of central bank digital currencies.
Meanwhile, President Joe Biden has a negative stance on cryptocurrency assets. Biden has made five public statements against crypto so far. That’s why it takes its place among crypto opponents. According to Stand With Crypto, the most notable of the anti-crypto senators is Elizabeth Warren, who has currently supported or introduced a total of three anti-crypto bills and made a total of 76 statements against crypto.
In July 2023, Warren reintroduced the Digital Asset Anti-Money Laundering Act, which aims to crack down on self-custody digital wallets, expand Bank Secrecy Act responsibilities, create Anti-Money Laundering compliance review, and take other legislative measures to combat the illegal use of digital money.
New statements about cryptocurrencies from the presidential candidate
Robert F. Kennedy Jr. is the first presidential candidate to accept Bitcoin for campaign donations. Now he has joined rival Donald Trump in vowing to fight against the development of a central bank digital currency in the US. Kennedy released a snippet of his media appearance in which he discussed the threats of central bank digital currency (CBDC). The presidential candidate names his post as part of his discussion with alternative medicine advocate Joseph Mercola, who promotes “alternative remedies” for Covid-19.
In the one-minute video, Kennedy states that CBDC will enable the government to have information about every single transaction a citizen makes. He claims that this will lead to blackmail or pressure. He also said, “This (CBDC) is a disaster for human rights and civil liberties.” says. Kennedy shares the example of China, where the local CBDC, the “digital yuan,” is tied to an extensive social credit system and, according to US politicians, the government can “shut off” an individual’s access to their funds if street surveillance cameras detect any non-compliance.
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