GENIUS Act
This bill is very pro-crypto.
sponsored
Bill Hagerty
Republican Senator from Tennessee
Strongly supports crypto
Bill Hagerty has made 121 statements about crypto.
Notable statements
S.J. Res 3
This bill is very pro-crypto.
cosponsored
SAB 121 House Joint Resolution
This bill is very pro-crypto.
voted for
Bill Hagerty
@SenatorHagerty
Chairman Atkins’ clear-eyed leadership on crypto strikes the right balance: giving our innovators room to grow while protecting consumers. Let’s ensure the future of finance is built here at home. x.com/secpaulsatkins…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
With @POTUS's signing of my GENIUS Act into law, we’ve built crucial momentum toward achieving regulatory certainty for digital asset market structure.
This discussion draft demonstrates a strong commitment to unlocking the full potential of the digital asset economy by delivering responsible legislation that reflects input from stakeholders, fosters innovation, and ensures the United States remains a global leader in digital assets. hagerty.senate.gov/press-releases…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Watch how we made history with the first crypto legislation signed into law.
The GENIUS Act faced roadblocks, but we got it done.
@POTUS @realDonaldTrump pic.x.com/C4gET2aYKh
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@POTUS just signed my bill—the GENIUS Act—into law.
Proud to be there for this historic moment. This is the first crypto legislation ever signed into law in the United States.
A major win for American innovation, leadership, and the future. 
pic.x.com/4lHF7p1MLgg
pic.x.com/4lHF7p1MLgg
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This afternoon, the House will vote on the GENIUS Act.
I am proud to have authored this legislation that will update America’s payment system and make the United States the hub for innovation in digital assets.
GENIUS will:
Bring America’s payment system into the 21st century
Cement U.S. dollar dominance
Increase demand for U.S. treasuries
Bring America’s payment system into the 21st century
Cement U.S. dollar dominance
Increase demand for U.S. treasuriesVery pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenatorTimScott: The GENIUS Act takes a bold step forward to promote innovation and consumer protection for payment stablecoins.
Than…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @charliekirk11: Another legislative win for President Trump as the House has just overwhelming passed the pro-crypto, GENIUS Act. Backed…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
I oppose Central Bank Digital Currencies. They are a threat to Americans' freedom and privacy.
We need private-sector innovation and competition to drive stablecoin innovation in America.
That's why the GENIUS Act ensures that U.S. innovators, not central planners, shape digital asset policy in the United States.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This afternoon, the House passed the GENIUS Act — soon to be the first-ever crypto law in our nation’s history.
It will be great for the freedom and prosperity of American citizens, our businesses, and the Greatest Nation in the history of the world.
I look forward to being with @POTUS when he signs it into law very soon!
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The House just passed my bill – The GENIUS Act!
This historic legislation will bring our payment system into the 21st century. It will ensure the dominance of the U.S. dollar. It will increase demand for U.S. Treasuries.
I look forward to @POTUS signing GENIUS into law – the first step in making America the crypto capital of the world.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It’s Crypto Week in Congress.
The House is set to pass my GENIUS Act — legislation that’s great for Americans, great for business, and ensures innovation happens right here in the U.S.
Let’s get it to @POTUS’s desk and keep America at the forefront. pic.x.com/3ptFJyrDqrr
pic.x.com/3ptFJyrDqrr
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The GENIUS Act is my landmark bipartisan legislation to regulate stablecoins and bring America’s payment system into the 21st century.
The CLARITY Act fosters innovation and protects consumers by defining market structure, allowing builders to build without regulatory overreach.
The Anti-CBDC Surveillance State Act would ban the Federal Reserve from issuing digital dollars that could surveil our financial transactions. (2/3)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It’s #CryptoWeek in the House.
With votes on the GENIUS Act, CLARITY Act, and the Anti-CBDC Surveillance State Act, we have a historic opportunity to cement America’s leadership in digital assets.
All 3 bills protect our freedoms, provide regulatory clarity, and promote innovation. (1/3)Very pro-crypto
Bill Hagerty
@SenatorHagerty
With the GENIUS Act heading to @POTUS's desk at the end of this week, the Senate is committed to finishing the job and passing a digital asset framework built by and for American values. (3/3)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The House votes on my GENIUS Act this week.
With this bill, we are one step closer to becoming the global leader in crypto.
Let’s get this to @POTUS’s desk ASAP.Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: Proud to team up with @SenatorTimScott, @SenThomTillis, and @SenatorHagerty to unveil critical digital asset market structur…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Once the GENIUS Act is law, corporations, small businesses, and individuals will be able to settle payments nearly instantaneously, rather than wait for days or weeks and accrue the fees that go with it. Put simply, stablecoins are a paradigm-shifting development that can bring our payment system into the twenty-first century. (4/7)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The GENIUS Act establishes the first ever pro-growth regulatory framework for payment stablecoins. This bill will cement US dollar dominance, protect customers, increase demand for US treasuries, and ensure that innovation in the digital asset space is in the hands of the United States of America, not our adversaries. (2/7)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The GENIUS Act will cement U.S. dollar dominance, protect customers, drive demand for U.S. Treasuries, & ensure that digital asset innovation happens in the U.S., not overseas.
With this bill, we are one step closer to becoming the global leader in crypto.
Let’s get this done. pic.x.com/EnKNM5fFjP
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This legislation establishes procedures for issuing stablecoins, designates clear roles for federal and state regulators, implements standards for consumer protection, and includes strong safeguards to deter illicit activity. (5/7)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
I’m excited to see the GENIUS Act pass the Senate later today. It will:
-Establish U.S. dollar dominance
-Revitalize our payment system into the 21st century
-Make the worldwide leader in stablecoins
Let’s get it done!pic.x.com/kBlsxfrjOzz
the worldwide leader in stablecoins
Let’s get it done!pic.x.com/kBlsxfrjOzz
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Projections show that with the passage of GENIUS, stablecoin issuers could become the world’s largest holders of U.S. Treasuries by 2030. Such an outcome would shore up our fiscal resilience and cement the U.S. dollar’s status as the global reserve currency. (6/7)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
With GENIUS, the value of stablecoins will be pegged to the U.S. dollar and backed 1 to 1 by cash or short-term U.S. treasuries.
By combining the dollar’s advantages with the speed and efficiency of blockchain technology, the GENIUS Act facilitates trad-fi’s adoption of crypto and ushers in a new generation in payment processing.
The prospect of faster and cheaper payments will have far-reaching implications for our financial system. (3/7)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It was an honor to participate in this year’s Bitcoin Conference in Las Vegas!
I enjoyed seeing @BoHines and @DavidFBailey, along with participating in @CodyCarboneDC’s panel with @samkazemian, @GOPMajorityWhip, @davidmarcus, and @RepBryanSteil.
Digital asset technology is the future. I look forward to working hand-in-hand with @POTUS implementing his pro-crypto agenda.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SecScottBessent: The Trump Administration is going big on digital assets.
Why? Because the previous administration nearly destroyed th…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
My goal is simple: make certain that the stablecoin legislation passes. pic.x.com/v6gBCKMQEP
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: Stablecoins aren’t the future, they’re the present.
Digital assets can facilitate payments 365 days of the year, without the…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Tonight, the Senate moved forward on the GENIUS Act. This groundbreaking, bipartisan legislation will bring America’s payment system into the 21st century.
The GENIUS Act skyrockets the United States with a digital payment framework with the fastest rails possible. It will ensure U.S. dollar dominance. Customers will be protected, the demand for U.S. treasuries will balloon to the tune of more than $1 trillion, and innovation in the digital asset space will thrive in the United States going forward.
I look forward to making history with my colleagues this week.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: Digital assets are the future and now we’re one step closer to ensuring America leads the way.
Thank you @LeaderJohnThune,…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The GENIUS Act will revitalize our payment systems here in America. Stablecoin holders will be the largest short-term treasuries owners in the world, which asserts U.S. dollar dominance. pic.x.com/QHw40oyi5A
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Tonight’s vote is a historic opportunity to move toward passing the first major piece of digital asset legislation into law. It is an essential first step that will protect consumers, keep America at the forefront of technological innovation, and further solidify the dominance of the U.S. dollar.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Stablecoin issuers will be the largest holders of U.S. treasuries in the world. pic.x.com/Z8uoYdhmcs
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The GENIUS Act is a historic first step in establishing a regulatory framework for stablecoins and asserting dollar dominance. I joined @SquawkCNBC on @CNBC to discuss. pic.x.com/tmxwR7AGiF
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The last thing I want to see is innovation leaving America. The GENIUS Act keeps stablecoin innovation here. pic.x.com/8zfBWWp3CU
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Next week, the Senate will make history when we pass the GENIUS Act that establishes the first ever pro-growth regulatory framework for payment stablecoins. This bill will cement US dollar dominance, protect customers, increase demand for US treasuries, and ensure that innovation in the digital asset space is in the hands of the United States of America, not our adversaries.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Great to see Chairman Atkins’ work underway at the SEC to develop clear rules for digital assets. Under his watch, the Commission’s approach will no longer rely on ad hoc enforcement actions, but provide long-needed clarity to the digital asset ecosystem and the American public. sec.gov/newsroom/speec…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Voting “no” today means you are not willing to even debate, nor amend, the GENIUS Act.
It means that all of the recent comments made in the press about needing changes or tweaks were simply lip service. It means a sudden change of heart from a “yes” in committee to a swift “no” in the last week is purely about politics, not policy. A “no” vote today is a vote against crypto and against innovation. (4/5)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenatorRicketts: Today, Democrats torpedoed a bill that would make America the global leader on stablecoin.
This was a bipartisan bill…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @BankingGOP: Today should’ve been a historic day for digital assets.
Unfortunately, Senate Democrats put politics in the way of commo…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SecScottBessent: For stablecoins and other digital assets to thrive globally, the world needs American leadership.
The Senate missed a…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: The GENIUS Act protects consumers by:
Requiring all stablecoins to be backed 1-to-1
Giving consumers strong rights in ba…
Requiring all stablecoins to be backed 1-to-1
Giving consumers strong rights in ba…Very pro-crypto
Bill Hagerty
@SenatorHagerty
My historic legislation establishes the first ever regulatory framework for stablecoins to modernize America’s payment system and affirm the dominance of the US dollar. See the many statements of support from industry stakeholders @BankingGOP. x.com/bankinggop/sta…Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: .@SenatorHagerty's GENIUS Act gets us one step closer to maintaining American leadership in digital assets.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenThomTillis: The world is rapidly establishing digital asset regulatory frameworks. Europe’s MiCA and Singapore’s PSA are clear warni…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @BlockchainAssn: Today, the CEOs of the three leading digital asset trade associations jointly urged the Senate to bring the GENIUS Act…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
We must advance legislation that enshrines American leadership in the digital asset space and protects the US dollar for centuries to come. That time is now.
We have a choice here. Move forward and make any remaining changes needed in a bipartisan way, or show that digital x.com/eleanorterrett…ation remains a solely Republican issue.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: Our landmark legislation is a huge victory for the digital assets industry and a critical step in securing our nation’s fina…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
America no longer stifles and regulates the crypto industry. President Trump has allowed digital assets to flourish in our markets. (17/35) foxbusiness.com/politics/presi…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This was a broad effort to get this bill to its current form. I want to thank Chairman Scott, Senators Alsobrooks, Lummis, Gillibrand, Kim, Warner, Blunt Rochester, Gallego, and all of my Republican colleagues for working with me on this. More improvements to come but today was a hx.com/i/web/status/1…oin legislation.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Whether it’s improving transaction efficiency, freeing up working capital, or driving U.S. treasury demand, the benefits of a clear regulatory framework for stablecoin are immense.
The Genius Act has gained bipartisan support because it presents common sense rules that protect cx.com/i/web/status/1…tpic.x.com/CO3KCYA62Oation. It’s time we provide the clarity and stability that our country and its innovators so desperately need.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
I’m pleased to see my GENIUS Act successfully pass out of the Senate Banking Committee with bipartisan support. This legislation is a critical first step in establishing a safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to mx.com/i/web/status/1…ax.com/senatorhagerty… forward to seeing this bill pass the Senate in the near future and ultimately signed into law by President Trump.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The Senate Banking Committee’s debate and vote on my GENIUS Act re: crypto stablecoins starts now.
WATCH LIVE HERE: banking.senate.gov/hearings/03/10…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
My GENIUS Act with @SenatorTimScott, @SenGillibrand, @SenLummis, and @Sen_Alsobrooks establishes a safe and pro-growth regulatory framework that will unleash innovation and advance @POTUS’s mission to make America the world capital of crypto. I look forward to getting this bill voted out of the Senate Banking Committee this week and ultimately signed into law. hagerty.senate.gov/press-releases…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: We need a bipartisan regulatory framework for stablecoins. Let’s get @SenatorHagerty's GENIUS Act across the finish line and…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Today, I’m introducing the GENIUS Act w/ @SenatorTimScott, @SenGillibrand, & @SenLummis, a bill that establishes a clear regulatory framework for stablecoins.
I look forward to working with @RepFrenchHill and @FinancialCmte to get it to the President’s desk and signed into law. x.com/business/statu…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The tide has turned in favor of digital assets here in America. I’m pleased to lead my colleagues in the GENIUS Act, which will help make our nation a positive environment for stablecoins and digital assets. pic.x.com/osNj1t7Qtj
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@POTUS has unleashed digital assets innovation and unburdened the industry from predatory regulations. (4/10) pic.x.com/pljRCMT7sY
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @SenLummis: The digital asset dream team. Let’s get to work
@SenThomTillis @SenatorHagerty @SenMcCormickPA @BernieMoreno @SenRubenGal…
@SenThomTillis @SenatorHagerty @SenMcCormickPA @BernieMoreno @SenRubenGal…Very pro-crypto
Bill Hagerty
@SenatorHagerty
It’s the dawn of a new era for digital assets. This is a groundbreaking moment for crypto innovation in America x.com/eleanorterrett…K
x.com/eleanorterrett…KVery pro-crypto
Bill Hagerty
@SenatorHagerty
Yesterday, I had the pleasure of joining the Blockchain Association Summit in Washington.
With President Trump in the White House and Republicans in control of Congress, the future is bright for the digital asset community. pic.x.com/8KTyGGAP2z
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Today, my Republican colleagues and I blocked Banking Democrats’ 11th-hour attempt to install an anti-crypto, climate activist at the SEC.
Thank you to incoming Chairman @SenatorTimScott @BankingGOP for his efforts to block radical nominees from getting confirmed. pic.x.com/7QhBnXQJ48
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The American people spoke, yet Democrats aren’t listening.
Today we blocked Biden and Senate Democrats from installing an anti-crypto, climate activist at the SEC for the next 5 years—during their last 5 weeks in office.
This Administration has done enough damage. x.com/BrendanPederse…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Just now, Sherrod Brown tried to install Biden’s anti-crypto, climate-activist SEC nominee with an eleventh-hour backroom deal. A word of warning to my Democrat colleagues: I will have no sympathy for crocodile tears when we move our nominees through at lightning speed next year. pic.x.com/FcsHw6OFVX
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It is unfortunate that it came to this point, but I’m glad to see states—including Tennessee—taking a stand against Gary Gensler’s anti-crypto agenda. x.com/EleanorTerrett…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It is long overdue for Congress to pass legislation that gives clarity to stablecoins in the US. That is why I released draft legislation that builds off @PatrickMcHenry's work that establishes the framework necessary to unlock this technology’s potential to benefit Americans. pic.x.com/QreZghYI4H
Very pro-crypto
Bill Hagerty
@SenatorHagerty
For too long, the benefits & promise of stablecoins have been hindered by a lack of legal clarity. My new draft legislation builds off @PatrickMcHenry’s work & establishes the framework necessary to unlock this technology’s potential to benefit Americans. hagerty.senate.gov/press-releases…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Gary Gensler's testimony before the Banking Committee has been canceled due to some "scheduling issues."
Gensler has skirted the law to advance his radical agenda and attack crypto—Americans deserve to hear him explain what has been going on under his watch at the @SECGov.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Regulators shouldn't be forcing innovation into unregulated offshore markets. Just like with crypto, the federal government must adopt a more innovation-friendly posture, or risk losing America's competitive edge. coindesk.com/policy/2024/09…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
We need to allow crypto innovation here in America. President Trump will do that. pic.x.com/KtIPbCO1kO
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The Biden Admin has made several moves toward creating a CBDC. This is what's being done in Communist China, & it would allow govt surveillance & control of all of our financial transactions. The Bitcoin community doesn’t want something centrally controlled by the federal govt. pic.x.com/8ebUIXZ0gl
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Innovation in crypto, one of the greatest, most impactful technologies that we see for our nation's future, should happen here in America—not be forced offshore the way the current Administration has been doing. President Trump made that clear last weekend at Bitcoin Nashville. pic.x.com/hS3TIoswlG
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @BitcoinMagazine: JUST IN: US Senator Bill Hagerty explains why he loves #Bitcoin at the Bitcoin 2024 Conference in Nashville 
“I…
US Senator Bill Hagerty explains why he loves #Bitcoin at the Bitcoin 2024 Conference in Nashville
“I…Very pro-crypto
Bill Hagerty
@SenatorHagerty
Grateful to join Comissioner Stuart McWhorter to announce Tennessee’s commitment to: (1) fostering free and open source software development and (2) making our state Sovereign Valley when it comes to freedom tech. #BitcoinNashville2024 pic.x.com/MTm6ubUjz4
Very pro-crypto
Bill Hagerty
@SenatorHagerty
While I am glad to see this finally happen, these approvals are long overdue, and should never have taken so long. Gary Gensler and the SEC have proven to be nothing short of hostile toward the crypto industry, at the expense of American competitiveness. x.com/CoinDesk/statu…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
It’s official: Democrats are hellbent on crushing crypto.
The promise of decentralization threatens their control.
We need to build a future for crypto in America, and we’ll need new political leadership to do it. x.com/BitcoinMagazin…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This vote will reveal your elected officials’ true stance on crypto.
The last vote was pre-determined given Biden’s veto threat - this time it is live.
Pro-innovation Republicans have made our stance clear—will Democrats have the courage to join us? theblock.co/post/303779/us…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@GaryGensler’s failure to provide clear rules of the road for crypto is pushing the industry overseas. Crypto innovation creates jobs, drives technological progress, and spurs economic growth—it should be happening here in America. pic.x.com/Kq9IspnKiJ
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Earlier this year, I joined @JDVance1 and my colleagues in calling out the SEC’s abuse of power. While this news is an encouraging first step, much more must be done to restore the SEC's accountability and ensure it drops its groundless hostility to crypto innovation. pic.x.com/AAsO7UKTMz x.com/business/statu…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The @SECGov is not above the law, and today’s decision reinforces this fact. These sanctions ought to remind the agency that there are consequences when it abuses its power to target crypto and blockchain innovation. x.com/EleanorTerrett…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Government bureaucrats have been far too willing to exploit the financial system to advance political agendas & target Americans. I joined @SenTedCruz in introducing legislation to halt efforts by the Biden Admin to issue a CBDC, which would violate Americans’ privacy & rights. x.com/SenTedCruz/sta…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The federal govt should partner with private industry to combat bad actors—including in the crypto space. My bill w/ @SenLummis would help law enforcement agencies leverage their existing authorities to better identify violations w/out stifling innovation. hagerty.senate.gov/press-releases…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Today's long overdue approval of spot Bitcoin ETFs strengthens U.S. leadership in financial innovation. This not only takes a step toward greater regulatory clarity for crypto, but also opens the door for more Americans to become involved in this cutting-edge technology. (1/2) x.com/markets/status…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This milestone ought to be a turning point for @SECGov—it must end its excessive hostility toward cryptocurrency and refocus on its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation. (2/2)
Very pro-crypto
Bill Hagerty
@SenatorHagerty
I can understand why large banks are opposed to cryptocurrencies – the technology has the potential to disrupt much of the traditional banking model. This is not a fight for DC to pick sides on. We need to regulate with a light touch that doesn’t kill innovation in the US. pic.x.com/CMiZRG6iL1
Very pro-crypto
Bill Hagerty
@SenatorHagerty
When it comes to regulating crypto, we need a scalpel, not a sledgehammer.
youtube.com/watch?v=CgBclr…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
WATCH: Hagerty Calls out Dems for Using Crypto Industry to Distract from Biden Admin's Lax Sanctions Enforcement Funding Iran-Back Hamas pic.x.com/IOr7k7x1rs
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@GaryGensler is creating a terrible environment for those crypto companies who are trying to invest and expand, it's forcing them to look overseas to more favorable regulatory environments.
That's not where we need to be right now.
finance.yahoo.com/news/sec-gensl…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The SEC is essentially executing Operation Choke Point 2.0. This time, the targeted industry is the cryptocurrency industry, & it’s creating tremendous uncertainty. pic.x.com/Bu3gqlvx3t
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Glad to see Michael Barr agree: the Fed cannot issue a CBDC without explicit authorization from Congress.
I will fight against any effort to create a central bank digital currency—both here in Congress and in the Executive Branch. coindesk.com/policy/2023/09…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
RT @taylorjbarr: .@SenatorHagerty during today’s @CatoCMFA crypto conference:
“This is chokepoint 2.0”
“We are now using bank supervisory…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Enjoyed visiting with the team at GRIID & seeing their Maynardville operation. As one of the leading Bitcoin mining businesses in the US, I am pleased to see their success in TN.
They’re helping provide stability to our power grid & are providing good jobs in rural communities. pic.x.com/AnChQeNWHo
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The US govt needs to provide clarity for digital asset innovation to occur here in the US, which is the opposite of what the Biden Admin is doing. Hopefully this marks a turning point for crypto & makes the @SECGov think twice before bringing new lawsuits.
ccn.com/news/us-senato…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Coinbase CEO Brian Armstrong should fight the SEC's lawsuits. It's evident that the Biden Admin is trying to kill crypto and push digital innovation offshore, leaving us way behind–despite the great innovators we have in America. pic.x.com/6KWhS7rqnI
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Make no mistake, the SEC's attempts to undermine the digital asset industry is a deliberate move–Gary Gensler has made it clear that he wants to see private cryptocurrencies fail to make way for a CBDC. pic.x.com/jw2OVgXgtO
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@GaryGensler is finally saying the quiet part out loud: the Biden Admin wants to kill market innovation to pave the way for a CBDC, which would give the federal gov. unprecedented insight into your life.
I will fight to make sure this doesn’t happen. cnbc.com/2023/06/06/sec…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
.@RepFrenchHill & I sent a letter to SEC chairman @GaryGensler raising concerns about the SEC’s Investor Advisory Committee’s April 6 Letter on Digital Assets that violates Committee procedures.
Our letter:
hhagerty.senate.gov/press-releases…https://t.co/BEpRwf7nTd
hhagerty.senate.gov/press-releases…https://t.co/BEpRwf7nTd
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Since December, I have voiced concerns about Binance’s ties to China & the CCP. Today’s report on their workforce in Shanghai raises yet another red flag about their operations both here in America & globally—and the influence of the CCP in crypto markets. bloomberg.com/news/articles/…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Through Operation Chokepoint 2.0, the Administration’s attack on the crypto industry only benefits companies like Binance, and will ultimately expand the CCP’s role in driving global innovation.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Last week, Hong Kong hosted its 2023 Digital Economy Summit putting on full display their intent to embrace blockchain.
This event was attended by CCP officials who publicly endorsed Hong Kong’s bid to become a crypto hub through state-backed and private sector investments.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
As the Biden Admin undermines our crypto industry, other nations are accelerating efforts to fill the void. The U.S. cannot afford to cede this leadership; however, with initiatives like Operation Chokepoint 2.0, nations like Hong Kong—with the CCP’s support—will do just that.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The uncertainty created by the Biden Administration’s hostility to crypto has only benefited companies like Binance and prevented American champions from emerging.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Crypto, like other innovative technologies, deserves regulatory clarity & common sense regulation to ensure that it flourishes here safely. youtube.com/watch?v=9N-KLJ…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
I’m hearing examples of companies in the crypto space being debanked by US banks who are caving to political pressure from the left.
If Operation Choke Point taught us anything, it’s that under no circumstances should banks be used as partisan tools to kill legal businesses.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
While Senate Dems & financial regulators push to sever crypto assets from our banking system, the CCP is seeking to dominate blockchain.
Lawmakers must come together to enact legislation that will empower US firms to compete globally and advance American interests. x.com/CoinDesk/statu…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Regulators singling out business activities should alarm all Americans.
It doesn’t matter if it’s cryptoassets, firearms, or any other lawful business, using banking regulators to advance political agendas should not be tolerated.
blockworks.co/news/crypto-po…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
US Senator Introduces Bill to Protect Crypto Exchanges From SEC Overreach
dailyhodl.com/2022/10/02/us-…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
The lack of regulatory clarity for digital assets presents entrepreneurs and businesses with a choice: navigate the significant regulatory ambiguity in the U.S., or move overseas. My legislation provides clarity & certainty for U.S. traders & keeps businesses here at home.
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Lack of regulatory clarity for digital
assets discourages investment & job creation in America & jeopardizes U.S. leadership in this transformational technology. Pleased to introduce legislation to provide digital asset intermediaries much-needed certainty.hagerty.senate.gov/press-releases…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This week, I joined @SenLummis and @PatrickMcHenry in urging the EPA to fully study the potential environmental impacts of digital asset mining, including beneficial uses, before considering environmental regulation. Our letter to EPA Administrator Michael Regan https://t.co/4wZCitBUmZ
https://t.co/4wZCitBUmZ
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Hagerty, Colleagues Push Back On SEC’s Back-Door Attempt To Restrain Crypto Market | @Chattanoogancom chattanoogan.com/2022/6/16/4510…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
SEC's Bulletin 121 establishes regulation disguised as guidance, evading requirements under the Administrative Procedure Act designed to ensure transparency & allow input from those affected by rulemaking. I'm pushing back on this back-door attempt to restrain the crypto market. pic.x.com/JbiLiDUATh
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Unlike Democrats, we understand the difference between reserve backed and algorithmic stablecoins. Regulation in this space must be well-tailored to address risks, not an attempt to kill an entire industry.
theblockcrypto.com/post/146187/un…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Those in the cryptocurrency marketplace are navigating significant ambiguity. I've introduced a bill to provide clarity w/o giving the keys away to unaccountable bureaucrats who threaten to choke off innovation. Pleased to have @RepTrey's partnership in this common-sense effort. pic.x.com/tuPZ42ijpr
Very pro-crypto
Bill Hagerty
@SenatorHagerty
This is exactly the type of government over-regulation that will stifle growth and innovation in the crypto space where America is leading. x.com/jerrybrito/sta…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Glad to see that the banking regulators are looking to act quickly & in coordination to provide much-needed clarity on digital assets, but we must not over-regulate a developing industry that America is poised to lead. x.com/FDICgov/status…
Very pro-crypto
Bill Hagerty
@SenatorHagerty
Digital ledger technology offers a tremendous amount of promise in terms of financial innovation & inclusion. It’s an industry where I’d like to see the US continue to lead. I urged CFPB Director @chopracfpb not to use his agency's power to stifle innovation in the #crypto space. pic.x.com/V54V8PZJsw
Very pro-crypto
Bill Hagerty
@SenatorHagerty
With digital assets and cryptocurrencies, I agree that we need to protect American security without crushing innovation. foreignaffairs.com/guest-pass/red…
Very pro-crypto