- Coinbase’s “Stand with Crypto” initiative has garnered more support from politicians.
- 18 senators have declared public support for the initiative.
- The number includes senators across the political divide.
Digital assets policy advocacy is taking shape in the U.S. political class, as 18 senators throw weight behind Coinbase’s nonprofit organization group “Stand with Crypto.”
Last August, Coinbase launched the Stand with Crypto initiative to lobby U.S. politicians to champion cryptocurrencies and blockchain technology before the upcoming presidential elections. Since then, the group has attracted support across the political divide.
18 Senators Show Public Support for U.S. Crypto Policy
As of January 29, Coinbase’s nonprofit advocacy group for crypto indicated that 18 senators currently support the organization’s initiative, with high-profile Republican Party figures like Cynthia Lummis and Ted Budd leading the charge.
Per the group’s website, Senators Lummis and Budd have sponsored eight crypto bills each, totaling 209 statements on digital assets.
Other Republicans with a “strongly supportive” stance toward crypto policy are Senators Ted Cruz and Bill Hagerty, who have collectively sponsored five crypto bills and have made 24 public statements on digital assets policy.
Of the 18 senators in support of crypto policy, 14 are Republicans, and only four are Democrats. While the 18 may “Stand with Crypto” to the end, 30 senators have taken a firm position against digital assets, including 23 Democrats, five Republicans, and two Independents.
The most noticeable of the crypto-opposing politicians is Senator Elizabeth Warren, who has so far tabled or sponsored three anti-crypto bills and made 17 public statements against digital assets.
Read why Senator Warren thinks crypto is a threat to the U.S.:
Senator Warren Labels Crypto a Threat to the United States
Stay updated on Senator Warren’s expanded anti-crypto coalition:
Sen. Warren Expands Coalition Support for Crypto Crackdown Bill