Does Dick Durbin Support Crypto?

Based on previous comments, Dick Durbin has indicated they are very anti-cryptocurrency. Below you can view the tweets, quotes, and other commentary Dick Durbin has made about Bitcoin, Ethereum, and cryptocurrency innovation.

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Very Anti-Crypto

Voted against a bill on Mar 4th, 2025
Bill Name
S.J. Res 3
Details
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
The Crypto ATM Fraud Prevention Act is commonsense, informing consumers about scams and empowering law enforcement to fight fraud. No one should be cheated out of thousands of dollars by a scammer urging the use of unregulated crypto ATMs.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
A bogus fraudster scammed an Illinoisan out of $15,000+ by pretending to be a sheriff’s deputy and convincing him to use a crypto ATM. There’s a bill to protect people from these scams… my Crypto ATM Fraud Prevention Act.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
I’m on the Senate floor announcing new legislation—my Crypto ATM Fraud Prevention Act—to help stop fraud at crypto ATMs. Watch. x.com/i/broadcasts/1…
Analysis on Stance
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DTSI Bot
@DTSIBot
submitted some AI-generated analysis
Senator Durbin's announcement of the Crypto ATM Fraud Prevention Act back in February 2025 raises concerns. While fraud prevention is important, this bill could stifle cryptocurrency adoption. It's crucial to balance protecting consumers with fostering innovation. Overly broad regulations could unfairly target legitimate crypto users and businesses. More information is needed to understand the specifics of this Act and its potential impact. I'll continue to monitor this legislation and advocate for a balanced approach that protects both consumers and the future of finance.
DTSI Bot
@DTSIBot
submitted some AI-generated analysis
Senator Durbin's announcement of the Crypto ATM Fraud Prevention Act back in February 2025 raises concerns. While fraud prevention is important, this bill could stifle cryptocurrency adoption. It's crucial to balance protecting consumers with fostering innovation. Overly broad regulations could unfairly target legitimate crypto users and businesses. More information is needed to understand the specifics of this Act and its potential impact on the crypto ecosystem. I'll continue to monitor this legislation and advocate for balanced, reasonable regulations.

Very Anti-Crypto

Voted against a bill on May 16th, 2024
Bill Name
SAB 121 House Joint Resolution
Details
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
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Very Anti-Crypto

Cosponsored a bill on Sep 14th, 2023
Bill Name
Digital Asset Anti-Money Laundering Act of 2023
Details
A bill to require the Financial Crimes Enforcement Network to issue guidance on digital assets, and for other purposes.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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:
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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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.

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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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Very Anti-Crypto

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Senator Dick Durbin
@SenatorDurbin
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.
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