Researchers named top 5 cryptocurrency haters among US politicians

Amid growing interest in cryptocurrencies and blockchain technology, there remains significant resistance to these innovations in U.S. politics. Although supporters of the crypto industry may gain additional influence in the November 5 elections, several influential government officials continue to actively oppose digital assets, arguing that they pose a threat to U.S. financial stability and national security. Cointelegraph experts presented those who are now considered the main opponents of digital assets in the political system of the United States.

Senator Elizabeth Warren: a leading critic of cryptocurrencies

Massachusetts Senator Elizabeth Warren has become one of the most vocal opponents of cryptocurrency in Congress. She is the author of the Digital Asset Anti-Money Laundering Act, which has yet to be passed. Warren is convinced that the crypto industry provides ample opportunities for illegal activities, including the financing of criminal activity and trafficking in illegal substances.

Senator Lindsey Graham: co-author of the anti-cryptocurrency bill

Republican Senator Lindsey Graham of South Carolina supports the Warren bill and argues that cryptocurrencies facilitate the funding of criminal organizations. He said in September 2023 that the document would help create transparency and oversight in an industry that he believes facilitates illegal activity.

Senator Bernie Sanders: an advocate of strict regulation

Although Bernie Sanders, an independent senator from Vermont, rarely speaks out on the topic of cryptocurrencies, he supports the initiatives of his Democratic colleagues. In August 2023, he signed Warren’s letter to the IRS urging it to close the so-called $50 billion “tax hole” associated with cryptocurrencies. Sanders views digital currencies as an unreliable means of saving, and his criticism often centers on their impact on the U.S. tax system.

Congressman Brad Sherman: a staunch opponent of the

California Congressman Brad Sherman has long been known for his negative attitude towards digital currencies. He openly states that the main purpose of cryptocurrencies is to hide money. In April 2023, Sherman said that this is the only issue on which the Biden administration agrees with the position of former President Trump, who previously also criticized this asset class.

Sen. Sherrod Brown: head of the Senate Banking Committee

Sherrod Brown, a senator from Ohio and head of the Senate Banking Committee, is considered one of the most influential critics of cryptocurrencies in Washington. In February 2023, he expressed disappointment that cryptocurrency companies’ commercials during the Super Bowl failed to mention the risks associated with fraud and deception. Brown believes that cryptocurrencies and NFTs are speculative products that put Americans’ money at risk and has called for strict regulation of the industry.