The experts from Coinbase Stand With Crypto (CSC) have revealed that the cryptocurrency lobby in the US Senate, unofficially led by Republican Senators Cynthia Lummis and Ted Burr, has publicly voiced its support for the crypto industry through more than 300 statements over the past year. Additionally, they have proposed thirteen bills aimed at easing cryptocurrency regulations.
Interestingly, CSC has highlighted that out of the 18 senators advocating for the crypto industry, only four are from the Democratic Party. However, based on CSC’s analysis, the number of lawmakers openly expressing loyalty towards digital assets may constitute over one-third of the entire US Senate.
On the other side of the spectrum, Senator Elizabeth Warren stands out as one of the most vocal opponents of cryptocurrencies, consistently introducing three bills in the US Senate to combat them.
In November of last year, Senator Cynthia Lummis defended the crypto industry against accusations of being involved in illicit financial activities, emphasizing that illicit transactions are not exclusive to crypto but rather a problem in any sector. Lummis stressed that the issue lies not with the asset class itself, but with the ability of criminals to exploit any system.