Experts named the top 5 supporters of cryptocurrencies among politicians in the U.S.

The upcoming U.S. presidential election on November 5 could be a significant turnaround for the crypto industry. In 2024, the battle for politicians’ sympathy for blockchain and digital currencies has intensified, with a number of key figures openly supporting the sector. Cointelegraph’s experts have unveiled those who support the development of the cryptocurrency industry.

Senator Cynthia Lummis: the main bitcoin ally in Congress

Senator Cynthia Lummis of Wyoming, one of the most dedicated supporters of cryptocurrencies, along with Senator Kirsten Gillibrand, introduced a number of bills aimed at creating regulation for digital assets. Among them are the Stable Coin Act and the Financial Innovation Act, which aim to protect consumers and combat money laundering. Lummis also proposed the creation of a Strategic Bitcoin Reserve for the United States.

Senator Kirsten Gillibrand: an advocate for innovation within the Democratic Party

Unlike many Democratic colleagues who criticize cryptocurrencies, Gillibrand supports stable coins and believes they are important to maintaining the U.S. dollar’s dominance in the global market. She is actively working with Lummis on bills to regulate cryptocurrencies and has said that developing a regulatory framework for stablecoins would help prevent illicit financing and support the sustainability of the industry.

Patrick McHenry: retiring from politics

Congressman Patrick McHenry of North Carolina, head of the House Financial Services Committee, has been one of the most vocal supporters of cryptocurrencies. He helped promote the Financial Innovation for the 21st Century Act (FIT21) to regulate digital assets. However, despite his activism, McHenry announced that he would not run for office in 2024 due to the high costs of housing in Washington, D.C. and North Carolina.

Senator Ted Cruz: cryptocurrency ally in Texas

Senator Ted Cruz of Texas is in an intense re-election fight with Democrat Colin Allred. He has long been a supporter of cryptocurrencies and bitcoin mining, which has drawn sympathy from the crypto industry.

Donald Trump: a possible return to the White House

Former President Donald Trump previously showed little interest in cryptocurrencies, but amid growing support for blockchain technology from his rivals, he has changed his mind. At the Bitcoin Nashville conference in July, he said the US should become the “cryptocurrency capital of the planet” and promised to fire SEC chief Gary Gensler if he returned to the White House. He has also started accepting donations for his digital assets campaign and launched several of his own projects.