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  3. Mike Rounds

DoTheySupportIt grades politicians on crypto from how they vote and what they say. How it works

profile picture of Mike Rounds

US Senator from South Dakota

Does Mike Rounds Support Crypto?

Republican

7 votes · 16 statements

Latest · 2026-09-15Vote on CLARITY ActVery Pro-Crypto
  • @SenatorRounds
  • @RoundsforSenate
  • rounds.senate.gov
A
Crypto grade
Very Pro-Crypto
Based on 23 stances

Based on previous comments, Mike Rounds has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Mike Rounds has made about crypto.

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Full record

2026-09-15T00:00:00.000Z
Took stances on a bill between 2026-05-14T00:00:00.000Z and 2026-09-15T00:00:00.000Z
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.
Timeline
2026-09-15
Very Pro-Crypto
Voted for - Key Cloture Vote (Procedural Action)

Because of the way Senate rules work, CLARITY could not have gotten to a final vote without members voting in favor.

2026-05-14
Very Pro-Crypto
Voted for - Vote advancing bill out of Senate Banking Committee (Final Passage Out Of Senate)
Add commentary on this bill
2025-06-17T00:00:00.000Z
Took stances on a bill between 2025-05-20T00:00:00.000Z and 2025-06-17T00:00:00.000Z
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.
Timeline
2025-06-17
Very Pro-Crypto
Voted for - Final Passage Out Of Senate
2025-06-12
Very Pro-Crypto
Voted for - Key Cloture Vote (Procedural Action)

Because of the way Senate rules work, GENIUS could not have gotten to a final vote without members voting in favor.

2025-05-20
Very Pro-Crypto
Voted for - Key Cloture Vote (Procedural Action)

Because of the way Senate rules work, GENIUS could not have gotten to a final vote without members voting in favor.

Add commentary on this bill
2025-03-04T00:00:00.000Z
Voted for a bill on 2025-03-04
Bill
S.J. Res 3
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 Senate
Very Pro-CryptoAdd commentary on this bill
2025-02-13T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Out-of-control regulators under the Biden administration contributed to debanking for political purposes, including financial institutions who are associated with cryptocurrencies. We must expose these regulators who are forcing banks to debank these legal businesses.
tweet image
2025-02-13T21:25:53.000Z
Very Pro-CryptoAdd commentary on this stance

Commentary on Stance

DTSI Bot
@DTSIBot
submitted some AI-generated analysis

Senator Rounds continues his strong advocacy for cryptocurrency businesses against what he sees as politically motivated "debanking." He's absolutely right to call out this concerning trend. Debanking, where banks are pressured to sever ties with legal crypto companies, is a serious threat to the industry's growth and innovation. It's crucial to remember that many crypto businesses operate legally and provide valuable services. Cutting them off from the traditional financial system isn't just unfair, it stifles competition and limits consumer choice. Transparency is key here. The public deserves to know why these debanking decisions are being made and whether they are truly justified by legitimate concerns or driven by political agendas. Senator Rounds' call to "expose" these regulators is a step towards ensuring accountability and protecting the rights of law-abiding businesses in the crypto space.
2025-02-07T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
This week’s @BankingGOP hearing confirmed what many have feared: misguided debanking policies and an anti-crypto and fintech bias from Biden-era regulators are stifling innovation and impacting growth. Banks should be able to provide services to legal businesses – it’s as simple as that. We need common-sense oversight that protects our financial system while unleashing progress. Thank you to Nathan McCauley from @Anchorage Digital in Sioux Falls for coming and telling your story.
tweet image
2025-02-07T14:24:01.000Z
Very Pro-CryptoAdd commentary on this stance

Commentary on Stance

DTSI Bot
@DTSIBot
submitted some AI-generated analysis

Senator Rounds' tweet highlights a critical issue: the stifling effect of current regulatory policies on crypto and fintech innovation. He correctly points out the "debanking" policies, where banks are pressured to cut ties with crypto businesses, are a major impediment to growth. This practice not only harms the crypto industry but also limits consumer choice and access to financial services. His call for "common-sense oversight" is precisely what the crypto space needs. Regulation is important to protect consumers and the financial system, but it shouldn't be so heavy-handed that it crushes innovation. The current approach by some regulators seems more focused on hindering crypto than fostering responsible growth. It's encouraging to see Senator Rounds advocating for a balanced approach that allows the industry to flourish while addressing legitimate concerns. A special thanks to Nathan McCauley from Anchorage Digital for sharing his experiences and providing valuable insights into the challenges faced by crypto businesses.
2024-08-08T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Met with members of the South Dakota Blockchain Institute in Sioux Falls to discuss legislation related to cryptocurrency. We also discussed the use of AI in their industries. Appreciate them stopping by to visit. @DIFA_USA
tweet image
2024-08-08T15:37:02.000Z
Very Pro-CryptoAdd commentary on this stance
2024-05-16T00:00:00.000Z
Voted for a bill on 2024-05-16
Bill
SAB 121 House Joint Resolution
Details
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.
Vote
Final Passage Out Of Senate
Very Pro-CryptoAdd commentary on this bill
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
So how does this relate to Colonial Pipeline? Bitcoins only exist as data. They can be tied to digital wallets rather than a specific person’s identity, which means people believe they can receive and spend them anonymously- perfect for secret transactions like ransoms.
2021-05-27T19:51:07.000Z
Somewhat Anti-CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
In short, the more miners there are, the harder it is to mine bitcoins. Since the best way to mine is to simply use more computations, there is an incentive to pool as much effort into mining as possible, simply to make sure your pool has an advantage over other miners.
2021-05-27T19:51:07.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
This means that, as bitcoin gets more valuable, more people mine, mining gets harder, it takes more computations and more electricity to mine a bitcoin. Some of you may be familiar with @elonmusk recent statement about bitcoin’s carbon footprint.
2021-05-27T19:51:07.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
The first person to win a block gets a prize of bitcoins. Since the second step in forming a block is essentially up to chance, the most effective way to mine is simply to throw more computation at the problem, verifying as many blocks as possible as fast as possible.
2021-05-27T19:51:06.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
The interesting thing is that you can make it easier or harder to form new blocks if you make the nonce higher or lower. And for bitcoin, the difficulty is adjusted every 2016 blocks so that the rate of formation of new blocks is constant.
2021-05-27T19:51:06.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Despite the randomness, it's more like they’re getting paid a fee to maintain ledgers than mining or creating bitcoins. Miners provide proof that they’ve done work to contribute to the chain in exchange for compensation (in bitcoins), rather than making bitcoins themselves.
2021-05-27T19:51:06.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
In short, mining a new bitcoin is a two-step process. First, you need to verify a block’s worth of transactions, then you need to guess a hash (a number). Your guess is compared to a target (called a nonce) and if your guess is below the nonce then you form a block.
2021-05-27T19:51:05.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Since #bitcoins are decentralized, there isn’t a government or bank to maintain the system, which means there needs to be a different way. People who verify transactions are bitcoin miners, and the process of verification is fundamental to how they make (or mine) new bitcoins.
2021-05-27T19:51:05.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
This blockchain of transactions forms a distributed ledger that is difficult to modify and easy to verify (in theory); a ledger that is maintained collectively on a network with specific protocols to verify each new block in the chain, meaning that bitcoin exchanges are secure.
2021-05-27T19:51:04.000Z
Very Pro-CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
These protocols revolve around cryptography (for computers, this is the use of math to code information) hence “crypto”currencies. However, someone needs to actually verify each new block in the chain to keep the system running smoothly.
2021-05-27T19:51:04.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Using bitcoin as an example: bitcoins exist in digital ledgers, but to prevent fraudulent exchanges, transactions are recorded in encrypted blocks. Each block points at the previous block and has a timestamp. Go where each block points and you get a chain, called a “blockchain”.
2021-05-27T19:51:04.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Some people decided that, if the commodity backing a currency doesn’t matter, then why should money need to be a physical object and why should you need a government (or bank) to back money? From there, some programmers started developing cryptocurrencies (CCs).
2021-05-27T19:51:03.000Z
Neutral on CryptoAdd commentary on this stance
2021-05-27T00:00:00.000Z
X profile picture of @SenatorRounds
Senator Mike Rounds
@SenatorRounds
Software developments, however, mean that they don’t need to bother with masks and voice modulators. They can issue a ransom and request payment with a cryptocurrency (CC) (like bitcoin) rather than exchange a briefcase full of cash.
2021-05-27T19:51:02.000Z
Neutral on CryptoAdd commentary on this stance

All positions

  • Running to be US Senator from South Dakota
    3 January, 2027
  • US Senator from South Dakota
    3 January, 2025 - 3 January, 2027
  • Former US Senator from South Dakota
    3 January, 2023 - 3 January, 2025
  • Former US Senator from South Dakota
    3 January, 2021 - 3 January, 2023
  • Former US Senator from South Dakota
    3 January, 2019 - 3 January, 2021
  • Former 31st Governor of South Dakota
    7 January, 2003 - 8 January, 2011
  • Former Member of the South Dakota Senate from the 24th district
    3 January, 1991 - 3 January, 2001

How grades work

Each stance is scored from very anti- to very pro-crypto, and a person's grade is based on those scores. Newer stances can make older ones irrelevant.

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