As the U.S. Senate debates stablecoin regulations, questions arise about which senators hold personal investments in cryptocurrencies or related firms. On May 19, the Senate voted 66-32 to advance the GENIUS Act, a bill aiming to regulate stablecoins.
The bill received support from 16 Democrats but faced criticism over potential conflicts of interest due to lawmakers’ crypto holdings.
Following the vote, Senator Michael Bennet introduced the STABLE GENIUS Act to ban members of Congress from issuing or investing in digital currencies and require their crypto assets to be held in blind trusts while in office.
Although efforts to restrict congressional investments in regulated companies have largely failed, senators must disclose estimated values of their own and their families’ investments. Eleven senators have reported holdings in crypto-related companies:
Montana: Tim Sheehy (R), newly elected in 2024, holds $1,001–$15,000 in Intercontinental Exchange, which offers crypto futures contracts. Steve Daines (R), in office since 2015, previously sold shares in crypto ETFs including Valkyrie Bitcoin and Ether Strategy ETF.
Nevada: Jacky Rosen (D), serving since 2018, owns shares in PayPal, which launched a stablecoin in 2023.
Alaska: Dan Sullivan (R), in office since 2015, owns shares in BlackRock, a provider of crypto-focused ETFs.
Oklahoma: Markwayne Mullin (R), elected in 2023, holds shares in Intercontinental Exchange and BlackRock, while his wife owns PayPal stock.
Alabama: Tommy Tuberville (R), first elected in 2020, has investments in PayPal. Katie Britt (R), elected in 2022, has a husband who owns stock in Block, a crypto-friendly payments firm.
Ohio: Bernie Moreno (R), newly elected in 2024, owns between $500,000 and $1 million in eToro, an online trading platform offering crypto services.
West Virginia: Shelley Capito (R), serving since 2015, has a husband with $15,001–$50,000 in BlackRock shares.
Pennsylvania: Dave McCormick (R), a first-term senator elected in 2024, has purchased shares in the Bitwise Bitcoin ETF.
Rhode Island: Sheldon Whitehouse (D), serving since 2011, owns $1,001–$15,000 in Tesla, Block, and PayPal. He has expressed concerns about Bitcoin mining’s environmental impact and voted against the GENIUS Act.
This list highlights senators with disclosed crypto-related investments but is not exhaustive. Many lawmakers hold stakes in companies influenced by cryptocurrency markets. As digital assets gain mainstream acceptance, congressional interest and investments in crypto are expected to grow, despite ongoing regulatory debates.
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