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Recent Stances On Crypto
Mike Collins Jr reposted the post below
Treasury Secretary Scott Bessent
@SecScottBessent
Crypto is not a threat to the dollar. In fact, stablecoins can reinforce dollar supremacy.
Digital assets are one of the most important phenomena in the world right now, yet they have been ignored by national governments for far too long.
This administration is committed to States as a hub for digital asset innovation, and the GENIUS Act moves us one step closer to that goal.
Proud to vote for the GENIUS Act this week.
It strengthens our national security, safeguards consumers, and maintains U.S. dominance. I’m looking forward to building on this momentum and keeping America in the driver’s seat on crypto!
Despite Democrats’ desperate attempts to block it, we passed the GENIUS Act! This crucial stablecoin bill will help strengthen America’s efforts to remain on the cutting edge of financial innovation.
.@BreitbartNews: Sen. Tim Scott: Senate-Passed Stablecoin Bill Working to Fulfill Trump’s Mission to Make America ‘Cryptocurrency Capital’ of the World breitbart.com/politics/2025/…
The GENIUS Act emboldens Trump crypto corruption & industry self-enrichment without protecting consumers. Our amendments seeking to bar presidential schemes & criminal money laundering were blocked. 1/
Republicans forced passage of the GENIUS Act—giving Trump’s crypto corruption a Congressional seal of approval.
Passing this bill without powerful anti-corruption amendments sets a terrible precedent. Infuriating and a complete failure to defend the integrity of our national government.
The @HouseGOP has the opportunity to not only improve the Senate's stablecoin bill and ban CBDC, but also pass the bipartisan Clarity Act to define market structure.
Together this would implement President Trump's Digital Asset EO. whitehouse.gov/presidential-a…
Today brings us one step closer to becoming a welcoming home for digital asset companies. Now, let’s finish the job & pass market structure legislation to fulfill @POTUS' vision of becoming the crypto capital of the world.
Great news coming out of the U.S. Senate with the passage of the GENIUS Act - legislation that drives digital asset innovation and protects the U.S. consumer by ensuring smarter and more secure transactions when it comes to stablecoins. America is ready to lead in the race towards digital asset dominance and economic security!
Today, I voted NO on the GENIUS Act.
With no amendment process, this bill will allow crypto ATM scams to continue at the expense of unsuspecting Americans. Conveniently, it also allows the President and his family to continue owning, issuing, and profiting off of stablecoins.
The U.S. Senate passed the GENIUS Act, a major step forward in regulating stablecoins. Rural America must have a seat at the table in shaping the future of financial innovation.
There's a $232 billion, largely unregulated stablecoin market. It's currently being abused by bad actors including terrorist groups, cartels, and rouge states like North Korea. How can we begin to make it safer? Let me tell you.
We need to do more to regulate cryptocurrencies and support American businesses, consumers, and our national security. If Congress doesn’t act, we risk sidelining ourselves in favor of foreign countries who would gladly take our place in helping shape this growing sector.
The GENIUS Act is the first step to ensure stablecoins issued in the United States are not used to scam or defraud people or facilitate illicit finance, while also providing regulatory clarity our domestic industry needs to innovate here at home.
The Senate just passed the GENIUS Act — bipartisan stablecoin legislation I championed to secure America’s leadership in digital assets, protect consumers, and bolster U.S. national security.
Let’s get this bill to President Trump’s desk. scott.senate.gov/media-center/p…
The GENIUS Act protects consumers while promoting innovation and opportunity. It prioritizes national security and advances the U.S. dollar. Nebraska’s a major innovator in the stablecoin space and my amendment will give priority to states like ours when becoming certified.
The Senate took a critical step toward securing U.S. Dollar dominance by passing the bipartisan GENIUS Act. I look forward to working with my colleagues on comprehensive market structure legislation to protect consumers & ensure America's place as the crypto capital of the world.
Proud to support the first-ever digital asset legislation to pass the U.S. Senate.
The GENIUS Act will drive American innovation in the financial sector, protect consumers by boosting transparency, & further cement the U.S. dollar as the world’s reserve currency.
Projections show that with the passage of GENIUS, stablecoin issuers could become the world’s largest holders of U.S. Treasuries by 2030. Such an outcome would shore up our fiscal resilience and cement the U.S. dollar’s status as the global reserve currency. (6/7)
This legislation establishes procedures for issuing stablecoins, designates clear roles for federal and state regulators, implements standards for consumer protection, and includes strong safeguards to deter illicit activity. (5/7)
Once the GENIUS Act is law, corporations, small businesses, and individuals will be able to settle payments nearly instantaneously, rather than wait for days or weeks and accrue the fees that go with it. Put simply, stablecoins are a paradigm-shifting development that can bring our payment system into the twenty-first century. (4/7)
With GENIUS, the value of stablecoins will be pegged to the U.S. dollar and backed 1 to 1 by cash or short-term U.S. treasuries.
By combining the dollar’s advantages with the speed and efficiency of blockchain technology, the GENIUS Act facilitates trad-fi’s adoption of crypto and ushers in a new generation in payment processing.
The prospect of faster and cheaper payments will have far-reaching implications for our financial system. (3/7)
The GENIUS Act establishes the first ever pro-growth regulatory framework for payment stablecoins. This bill will cement US dollar dominance, protect customers, increase demand for US treasuries, and ensure that innovation in the digital asset space is in the hands of the United States of America, not our adversaries. (2/7)
The GENIUS Act will cement U.S. dollar dominance, protect customers, drive demand for U.S. Treasuries, & ensure that digital asset innovation happens in the U.S., not overseas.
With this bill, we are one step closer to becoming the global leader in crypto.
Let’s get this done.
Crypto ATMs aren’t being “exploited” to facilitate fraud. Fraud is almost all they’re used for.
Scammers are targeting elderly Americans, sometimes wiping out their entire savings.
We must regulate crypto, and I’m saying so in Committee right now.
Michigan is home to cutting-edge innovation, and we must ensure our workers, innovators, and consumers benefit from the potential of stablecoins and other digital assets.
I look forward to working with my House colleagues to pass a responsible framework that unlocks the promise of digital assets and protects against abuse.
rollcall.com/2025/06/16/thi…
I’m excited to see the GENIUS Act pass the Senate later today. It will:
-Establish U.S. dollar dominance
-Revitalize our payment system into the 21st century
-Make the worldwide leader in stablecoins
Let’s get it done!z
The GENIUS Act has a major loophole allowing Big Tech companies and major retailers to issue their own private currencies structured as stablecoins.
This bill shouldn't pass without amendments preventing these risks.
The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.
The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
To prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person's own use, and for other purposes.