Political Divide in the US as 30 Senators Oppose Crypto and 18 Senators Support.

Political Divide in the US as 30 Senators Oppose Crypto and 18 Senators Support.

RegulationUSA

By Miles

29 Jan 2024 (6 months ago)

1 min read

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18 U.S. senators, mostly Republicans, support crypto; 30 oppose, including Senator Elizabeth Warren, showing a split in Senate views on cryptocurrency.

Coinbase's nonprofit advocacy group “Stand with Crypto” shows 18 U.S. senators support cryptocurrency, withmost of these supporters being Republicans, like Cynthia Lumnis and Ted Burr, who are actively pushing for crypto-friendly laws.

Lumnis and Burr are leading crypto advocates in the Senate. They've introduced bills and made public statements supporting crypto, at the same time, other Republicans like Ted Cruz and Bill Hagerty also back crypto, while only four Democratic senators support it.

It was also revealed that 30 senators oppose cryptocurrency, this senators consist of 23 Democrats, 5 Republicans, and 2 independents. This group includes high-profile figures who are cautious about digital currencies.

Senator Elizabeth Warren is popularly known to be against crypto. She has introduced bills and made statements against it, highlighting the use of crypto in terrorist financing.

The political divide in the U.S. Senate shows uncertainty about crypto. The support from 18 senators is important for crypto's future in the U.S. however the upcoming presidential election will also highlight candidates' views on cryptocurrency.

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