profile picture of Dick Durbin

Dick Durbin

Democrat Senator from Illinois

Notable statements

Digital Asset Anti-Money Laundering Act of 2023

Cosponsored

A bill to require the Financial Crimes Enforcement Network to issue guidance on digital assets, and for other purposes.

Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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There's a long list of outrages in the crypto industry—including celebrity endorsers, billions spent on stadium naming rights, and phony tokens—all to gain misguided credibility with everyday Americans. My remarks in today's Approps Subcommittee hearing on the risks of crypto: pic.twitter.com/vWaDx113Nq
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Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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Deputy Secretary Su understands the ins and outs of a successful DOL. Today, we discussed a range of issues, including strengthening our workforce, concerns with crypto, and troubling reports of child labor exploitation. If she is confirmed, I look forward to working with her. pic.twitter.com/LSAPfLkWVC
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Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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I’m speaking live on the Senate floor in honor of National Public Defender Day and the 60th anniversary of the Supreme Court’s ruling in Gideon v. Wainwright. I will also discuss the collapse of Silicon Valley Bank and the need to properly regulate crypto. twitter.com/i/broadcasts/1…
Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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Hardworking Americans save for years to retire in dignity. These families deserve better than to have their life savings subjected to the uncertainty and volatility of crypto. I urged @USDOL to investigate retirement plans that offer investments in crypto. pic.twitter.com/EaXVufAWj0
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Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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Invest in crypto-mania and you'll be in a world of pure imagination. The FTX collapse was not an anomaly. Crypto is a dangerous investment and our government must do a better job at regulating this reckless, volatile, and foolish asset.
Very anti-crypto
Very anti-crypto
Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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The implosion of FTX has shown that we must provide financial regulators with adequate resources to effectively regulate the crypto industry. Hardworking Americans who invest in crypto should receive the same protections as traditional financial products. durbin.senate.gov/newsroom/press…
Very anti-crypto
Very anti-crypto
Quoted from www.durbin.senate.gov on Nov 21st, 2022

The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems. The industry is full of charismatic wunderkinds, opportunistic fraudsters, and self-proclaimed investment advisors promoting financial products with little to no transparency. As a result, the ill-advised, deceptive, and potentially illegal actions of a few have a direct impact on the valuation of Bitcoin and other digital assets.

Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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The implosion of FTX has made it clear that the digital asset industry has serious problems. I joined @SenWarren & @SenTinaSmith to urge Fidelity to do what is best & reconsider its decision to expose retirement accounts & employer-sponsored plans to these volatile assets. pic.twitter.com/qQn4PF80AP
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Very anti-crypto
Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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We should all agree that workplace retirement accounts are no place to gamble. Yet .@Fidelity, one of the largest 401(k) providers, wants to give plan sponsors the ability to expose plan participants to Bitcoin, a highly volatile and unregulated digital asset.
Very anti-crypto
profile picture of Dick Durbin

Dick Durbin

@SenatorDurbin

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It’s time to learn the truth about crypto. Let’s start with the obscene amounts of electricity needed to mine Bitcoin and other cryptocurrencies. Families and businesses in America will pay the price for crypto’s mining ventures.
Very anti-crypto