Based on previous comments, Dick Durbin has indicated they are very anti-cryptocurrency. Below you can view the tweets, quotes, and other commentary Dick Durbin has made about crypto.
This legislation prohibits federal agencies from providing financial assistance, bailouts, or emergency liquidity to digital asset market participants. The prohibition applies to digital asset intermediaries, service providers, distributed ledger protocols, decentralized finance (DeFi) trading protocols, and traditional financial institutions engaging in digital asset activities. Additionally, it explicitly bars these entities from accessing emergency liquidity facilities under the Federal Reserve Act and prevents the use of the Exchange Stabilization Fund for their benefit.
This legislation amends the Social Security Act to explicitly prohibit the Social Security Trust Funds from investing in digital assets or crypto-related vehicles. The ban covers direct cryptocurrency investments, digital asset futures, and stocks or bonds of public companies that derive significant value or revenue from digital asset holdings, trading, custody, or issuance.
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.
Took stances on a bill between 2025-05-20T00:00:00.000Z and 2025-06-17T00:00:00.000Z
Bill Name
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 Anti-Crypto
Voted against - Final Passage Out Of Senate
2025-05-20
Very Anti-Crypto
Voted against - Because of the way Senate rules work, GENIUS could not have gotten to a final vote without members voting in favor.
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".
This bill, titled the "Crypto ATM Fraud Prevention Act of 2025," mandates extensive registration and reporting requirements for virtual currency kiosk operators to the Treasury Secretary. It requires detailed disclosures to customers, physical receipts, and a refund policy for fraudulently induced transactions. The bill also imposes anti-fraud policies, including the use of blockchain analytics and the appointment of a compliance officer. For new customers, it introduces transaction limits and a requirement for live verbal confirmation for transactions over $500 to prevent fraud.
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.
This bill, titled the "Digital Asset Anti-Money Laundering Act of 2023," seeks to significantly expand the regulatory reach of the Financial Crimes Enforcement Network (FinCEN) over digital assets. It redefines "financial institution" to include unhosted wallet providers, digital asset miners, validators, and other network participants, subjecting them to Bank Secrecy Act obligations. The bill also mandates regulations on anonymity-enhanced cryptocurrencies and mixers, and imposes reporting requirements for digital assets held outside the U.S.