U.S. Senator Sherrod Brown, Chairman of the Senate Banking Committee, has raised the possibility of banning cryptocurrencies, labeling them as ‘dangerous’ and a ‘threat to national security.’ His comments reflect growing regulatory pressure on digital assets following the FTX collapse and highlight deepening political divisions over how to handle the $800 billion crypto market.
about US Senator Brown Floats Crypto Ban Over Security ConcernsSherrod Brown
0 posts last weekSherrod Brown Launches 2026 Senate Bid After Crypto-Backed Loss
Sherrod Brown, the former Ohio senator who lost his 2024 reelection bid to crypto-backed Republican Bernie Moreno, has announced a run for the US Senate in 2026. Moreno’s campaign was heavily supported by a digital asset-backed PAC that spent over $40 million on media buys. Brown, a vocal figure on crypto regulation in Congress, secured over 46% of the vote but ultimately lost. He now aims to unseat Republican Senator Jon Husted in the 2026 midterms, while Moreno’s next election isn’t until 2030. The 2024 race was one of Ohio’s most expensive, highlighting the growing influence of crypto in politics.
about Sherrod Brown Launches 2026 Senate Bid After Crypto-Backed LossU.S. Senator Proposes Crypto Ban Over Security Risks
U.S. Senator Sherrod Brown, chairman of the Senate Banking Committee, has suggested a possible ban on cryptocurrencies, citing their dangers to national security. Brown emphasized the need for stricter regulation, pointing to risks like drug trafficking, terror financing, and cybercrime linked to crypto. While acknowledging the challenges of enforcing a ban, he urged agencies like the SEC and CFTC to take stronger action. Meanwhile, other senators remain divided, with some opposing heavy regulation to preserve U.S. innovation. The SEC has already signaled stricter oversight, warning non-compliant exchanges of legal consequences. The U.S. Treasury is also assessing risks in DeFi and NFTs, with a report expected in early 2023.
about U.S. Senator Proposes Crypto Ban Over Security RisksTim Scott Prioritizes Crypto Regulation and Financial Innovation in New Agenda
Senate Banking Chair Tim Scott is prioritizing crypto regulation and financial innovation in his new legislative agenda, aiming to create a tailored regulatory framework for digital assets, including stablecoins. He criticized the previous SEC leadership for lacking clarity, which pushed projects overseas. Scott’s agenda also includes promoting financial inclusion, revising regulations, and addressing cyber threats and illicit finance.
about Tim Scott Prioritizes Crypto Regulation and Financial Innovation in New AgendaCrypto Industry’s Political Spending Aims for Regulatory Change in 2024
The cryptocurrency industry is aggressively investing in political influence, aiming to reshape regulatory frameworks ahead of the 2024 elections. With significant backing from Coinbase and others, the pro-crypto Fairshake super PAC spent $173 million to support candidates aligned with their growth ambitions, particularly targeting regulators perceived as hostile. Coinbase is advocating for the CFTC to become the primary crypto regulator, seeking clearer rules and a more favorable environment under the incoming Republican administration, which has shown a shift in attitude towards the industry.
about Crypto Industry's Political Spending Aims for Regulatory Change in 2024US Senate Banking Committee Establishes First Crypto-Focused Subcommittee
The US Senate Banking Committee is set to establish its first crypto-focused subcommittee, chaired by Senator Cynthia Lummis, with voting scheduled for next Thursday. This initiative aims to provide clarity for the crypto industry, following a similar move in the House Financial Services Committee. The new administration’s appointments, including former SEC commissioner Paul Atkins and Treasury Secretary Scott Bessent, signal a potential shift towards friendlier regulations for digital assets.
about US Senate Banking Committee Establishes First Crypto-Focused SubcommitteeCrypto Industry Influences New US Congress Members Ahead of 2025 Legislation
Members of the US Congress, supported by cryptocurrency PACs, will be sworn in on January 3, with significant funding influencing tight races. Notably, Republican Bernie Moreno defeated incumbent Sherrod Brown in Ohio, aided by over $40 million from the Defend American Jobs PAC. With 63 new House members and 10 new Senators benefiting from crypto funding, the upcoming Congress is expected to have a pro-crypto majority, potentially impacting future legislation on crypto regulation. Fairshake has reported $103 million available for the 2026 election cycle, indicating continued support for pro-crypto candidates.
about Crypto Industry Influences New US Congress Members Ahead of 2025 Legislation