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Top 5 Crypto-Friendly Politicians to Watch
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As the 2024 election rolls around, some lawmakers are stepping up to support blockchain, while others prefer to keep it at arm’s length.
Here’s a look at five U.S. crypto-friendly politicians who are betting on crypto to shake things up.
1) Senator Cynthia Lummis (R-WY)
When it comes to crypto, Senator Lummis is as solid as a rock. She’s been a fierce supporter of blockchain and Bitcoin and has even worked with Senator Kirsten Gillibrand (D-NY) to bring forward pro-crypto legislation.
In 2022, they introduced the Lummis-Gillibrand Responsible Financial Innovation Act, and this year they’re pushing for a stablecoin bill to create clear guidelines. Lummis also announced her “Strategic Bitcoin Reserve” bill, aiming to establish Bitcoin as part of the U.S. reserve, which even caught former President Trump’s attention.
ICYMI: I just announced I will introduce legislation to establish a strategic Bitcoin reserve! #Bitcoin2024 pic.twitter.com/P36AcdmPFF
— Senator Cynthia Lummis (@SenLummis) July 27, 2024
2) Senator Kirsten Gillibrand (D-NY)
Senator Gillibrand is a rare voice for crypto within the Democratic Party. She’s taken a strong stand for digital assets, joining forces with Lummis on the Responsible Financial Innovation Act and Payment Stablecoin Act.
Gillibrand believes that a regulatory framework for stablecoins is critical to keeping the U.S. dollar strong, encouraging responsible crypto innovation, and protecting consumers. Her work to bridge the gap between parties shows that blockchain isn’t just a one-party issue.
BREAKING:
Senator Bill Hagerty has released a bill for passage by Congress that will provide clarity on the issue of stablecoins in the US!
Most of the stablecoins don’t fulfill all necessary regulations but #Ripple stablecoin ‚RLUSD‘ will do!
pic.twitter.com/UT0HpBefCO
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) October 22, 2024
3) Congressman Patrick McHenry (R-NC)
As the chair of the House Financial Services Committee, Congressman McHenry has championed the crypto cause. He helped push the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed with strong bipartisan support.
McHenry has been clear on social media that it’s high time the Senate takes action on crypto regulations. While his exit will be a loss for the industry, his contributions won’t be forgotten.
I welcome @SenSchumer’s interest in digital asset legislation to protect consumers and foster innovation.
The House has done its work by passing the bipartisan #FIT21 with 2/3rds voting in support back in May.
Senate action on digital asset market structure is long overdue.
— Patrick McHenry (@PatrickMcHenry) August 15, 2024
4) Senator Ted Cruz (R-TX)
Senator Cruz is in a close race against his Democratic challenger, but his support for crypto, especially Bitcoin mining, is winning him friends in the industry. Bitcoin Freedom PAC donated $350,000 to support his reelection, showing that crypto backers are betting big on Cruz.
His pro-crypto stance has earned him strong support among Texas voters who see blockchain as the future.
One of the reasons I’m bullish on #Bitcoin is because it’s decentralized.
The Left hates Bitcoin because they can’t control it. #CPAC2022 pic.twitter.com/D4PYNacNBZ
— Ted Cruz (@tedcruz) February 25, 2022
5) President Donald Trump
Trump’s relationship with crypto hasn’t always been warm, but the tides are turning. As other candidates like Vivek Ramaswamy and Robert F. Kennedy Jr. rally around blockchain, Trump has been rethinking his stance.
Donald Trump says he will create a Bitcoin and Crypto Presidential Advisory Council and order the Treasury Department to cease and desist from taking steps to create a Central Bank Digital Currency:
“There will never be a CBDC while I’m President of the United States” pic.twitter.com/wiXl7l3eYa
— ALX
(@alx) July 27, 2024
At the Bitcoin Nashville conference in July, Trump called for the U.S. to become the “crypto capital of the planet” and promised to fire SEC Chair Gary Gensler if he returns to office. His bold stance has drawn in support from “crypto whales” hoping his policies will boost the industry if he wins.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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November 1, 2024 at 06:18AM
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