As the US elections approach, it has become important to identify leading politicians who oppose cryptocurrency in the country. The future of the crypto industry may depend on these people being elected.
Led by Elizabeth Warren
Senator Elizabeth Warren stands out as the US politician most opposed to cryptocurrencies. His opposing stance led him to propose the controversial Digital Asset Anti-Money Laundering Act (DAAMLA). This law aims to include the crypto industry within the existing anti-money laundering and counter-terrorism financing framework.
Warren thinks cryptoassets are mostly used to finance illegal activities. DAAMLA proposes to subject crypto service providers, including decentralized wallet providers, validators and miners, to the Bank Secrecy Act.
“Our laws will help create transparency and control in an environment that often facilitates criminal activity in the crypto industry.” –Elizabeth Warren
Sherrod Brown and Lindsey Graham
Ohio Senator Sherrod Brown has a strong negative stance, as does Elizabeth Warren, who is against the crypto industry. As chairman of the Senate Banking Committee, Brown supports Warren’s anti-crypto legislation and believes the crypto industry is built on fraud and theft.
Senator Lindsey Graham takes a similar stance. By supporting DAAMLA, Graham argues that cryptocurrencies should be regulated for transparency and legality.
“The rules that apply to the dollar should also apply to crypto.”
Other Opposing Politicians
Senator Bernie Sanders is known as a quiet opponent of crypto. He stated that he was not a big supporter of cryptocurrencies in 2022 and voted against crypto laws.
US Congressman Brad Sherman, on the other hand, regards crypto money as “secret money” and rejected the relevant laws. Sherman criticized his stance on crypto, particularly that of former President Donald Trump.
The crypto community is now closely watching whether these politicians will be re-elected.
As a result, the US elections could play a critical role for the future of the crypto industry. If these anti-crypto politicians are elected, significant regulations and restrictions on the industry could come to the fore.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
