SAB 121 House Joint Resolution
This bill is very pro-crypto.
voted against
Jack Reed
Democratic Senator from Rhode Island
Notable statements
A tweet from @EleanorTerrett referenced Jack Reed
NEW: Rhode Island Senator @SenJackReed and California Senator @Senlaphonza have penned a letter to @GaryGensler asking for the agency to step in to ensure broker-dealers are giving investors the proper disclosures around the $BTC ETFs (which they say should be properly referred to as ETPs).
Reed also calls on the SEC to NOT approve other #crypto ETFs:
“While the bitcoin market has displayed serious weaknesses, it is nonetheless far more established and scrutinized than the market for any other cryptocurrency. However vulnerable bitcoin may be to fraud and manipulation, markets for other cryptocurrencies are far more exposed to misconduct. We do not believe that other cryptocurrencies show the trading volumes or integrity to support associated ETPs.”
Very anti-crypto
Jack Reed
@SenJackReed
If foreign banks or foreign crypto firms knowingly do business w/ terrorists, they should lose access to the U.S. financial system. Our new bipartisan bill gives @USTreasury tools to protect our nat’l & economic security from new & emerging threats from terrorist orgs. x.com/MarkWarner/sta…
Very anti-crypto
Jack Reed
@SenJackReed
Crypto ATM & decentralized finance (DeFi) services are being used as tools by money launderers & sanction evaders. To reduce nat’l & economic security risks, I’m joining colleagues to intro CANSEE Act to bolster @USTreasury authorities & protect financial system integrity. pic.x.com/DduQRqvd5u
Very anti-crypto
Jack Reed
@SenJackReed
.@USTreasury is sanctioning Russia-based crypto platforms that are hotbeds of illicit activity & facilitate sales of ransomware, drugs, stolen credit cards, etc. & let cybercriminals hide their tracks. This is a critical step to prevent crypto from undermining nat'l security.
Very anti-crypto
Jack Reed
@SenJackReed
Russia is looking at alternative assets, including crypto, to evade sanctions. Blockchain transparency doesn’t provide enough deterrence. The Digital Asset Sanctions Compliance Enhancement Act is needed to strengthen our sanctions on Putin & his enablers.
cnbc.com/2022/03/24/rus…
Very anti-crypto
Jack Reed
@SenJackReed
We can’t let Putin & his cronies use crypto to evade sanctions. Joined @SenWarren @MarkWarner @SenSherrodBrown in urging U.S. Treasury to monitor & enforce sanctions compliance by the cryptocurrency industry.
nytimes.com/2022/03/02/bus…
Somewhat anti-crypto