Does Mike Lee Support Crypto?

Add your own commentary on this bill

Took stances on a bill between 2025-05-20T00:00:00.000Z and 2025-06-17T00:00:00.000Z

Bill Name

GENIUS Act

Details

The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.

Timeline

2025-05-20

Very Pro-Crypto

Voted for - Because of the way Senate rules work, GENIUS could not have gotten to a final vote without members voting in favor.

2025-06-12

Very Pro-Crypto

Voted for - Because of the way Senate rules work, GENIUS could not have gotten to a final vote without members voting in favor.

2025-06-17

Very Pro-Crypto

Voted for - Final Passage Out Of Senate

Took stances on a bill between 2025-01-28T00:00:00.000Z and 2025-03-04T00:00:00.000Z

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".

Timeline

2025-01-28

Very Pro-Crypto

Cosponsored

2025-03-04

Very Pro-Crypto

Voted for - Final Passage Out Of Senate

Add your own commentary on this bill

Mike Lee

@MikeLeeforUtah

“As the U.S. dollar continues to be unstable, continues to be inflated because we effectively print money every time Congress wants to spend more money than it has — which is a lot… something like crypto needs to exist,” Lee said finance.yahoo.com/news/life-with…

2024-10-13T15:46:23.000Z

Mike Lee

@SenMikeLee

Had an outstanding time at the @permissionless conference in Salt Lake City with @RepJohnCurtis discussing the future of crypto, saving the 4th Amendment, and keeping the government out of our bank accounts.

2024-10-11T20:04:31.000Z

Voted for a bill on 2024-05-16

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.

Vote Type

Final Passage Out Of Senate

Mike Lee

@SenMikeLee

My bill protects Americans from a similar intrusion by prohibiting the Federal Reserve or any federal government agency from minting or issuing a CBDC, whether through a direct-to-consumer or intermediated model.

2023-03-24T18:22:25.000Z

Mike Lee

@SenMikeLee

News that @binance may buy @investvoyager lends urgency to the need to pass HR 3843, so that HSR filers will be required to disclose any subsidies or support from foreign governments of concern. We cannot let the Chinese Communist Party entrench control over the crypto ecosystem.

Reuters

@Reuters

Binance to relaunch bid to buy bankrupt Voyager Digital - Coindesk reut.rs/3Ao3cgY

2022-11-17T11:20:26.000Z

2022-11-17T19:59:27.000Z

Mike Lee

@SenMikeLee

Utah is a financial hub and I'm grateful to @SenLummis of the Committee on @BankingGOP for sharing her expertise and knowledge with Utah's financial institutions and crypto leaders so they can continue to thrive in this digital age.

2022-10-20T00:28:45.000Z