Does John Olszewski Jr. Support Crypto?

Bill

Clean Cloud Act of 2025

Details

This legislation amends the Clean Air Act to mandate detailed energy consumption reporting and establish strict greenhouse gas emissions standards for large data centers and cryptocurrency mining facilities. Under the proposed framework, facilities with more than 100 kilowatts of capacity must report energy usage and power sources annually. It introduces regional carbon emissions baselines that decline by 11% annually, reaching zero by 2035, and imposes significant financial fees on electric utilities and facilities that exceed these limits.

Bill

GENIUS Act

Details

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.

Vote

Final Passage Out Of House

Bill

CLARITY Act

Details

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.

Vote

Final Passage Out Of House

Bill

H.J. Res 25

Details

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".

Vote

Final Passage Out Of House

Bill

MEME Act

Details

This bill, known as the MEME Act, prohibits federal elected officials, certain high-ranking government employees, and their immediate families from engaging in "prohibited financial transactions" for pecuniary gain. These transactions include the issuance, sponsorship, or promotion of "covered assets," explicitly defined to include cryptocurrencies, meme coins, tokens, and non-fungible tokens. The restrictions apply during their term of service, 180 days prior, and 180 days after, backed by civil and criminal penalties, and a private right of action for harm suffered.

Quoted from subscriber.politicopro.com · 2024-07-26

John Olszewski, along with several members of Congress and candidates, urged the Democratic National Committee and prospective presidential candidates to endorse pro-crypto policies. They emphasized the importance of adopting a forward-looking approach to digital assets and blockchain technology, highlighting its potential for American innovation, economic growth, and financial inclusion. Their requests include:

1. Including pro-digital asset language in the party platform.
2. Selecting a Vice-Presidential candidate knowledgeable in digital asset policy.
3. Choosing a pro-innovation SEC Chair.
4. Engaging with industry experts for informed policy-making.

Quoted from gojohnnyo.com · 2024-01-01

Olszewski's campaign website mentioned support for blockchain and crypto:

"Embracing emerging technologies like blockchain and cryptocurrency presents exciting opportunities for economic growth and financial inclusion. Johnny believes in harnessing the potential of these technologies while ensuring robust regulatory frameworks to protect consumers and safeguard against illicit activities."