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Steve Daines

Steve Daines (R)

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Notable statements

Sen. Steve Daines has 4 statement(s) about crypto.

"America has long led the world in innovation. We must do everything we can to ensure that the conditions allowing our nation to lead continue to exist, especially in #Crypto and blockchain innovation."

@SteveDaines September 14, 2021 on Twitter

"Today at @BankingGOP I plan to ask SEC Chair Gensler about his heavy-handed posture toward #Crypto and blockchain technology. It is threatening American innovation, could push jobs overseas and crush our financial prosperity."

@SteveDaines September 14, 2021 on Twitter

Senator Daines is a member of the Financial Innovation Caucus: "The caucus will serve as a space in the Senate to discuss domestic and global financial technology issues, and to launch legislation to empower innovators, protect consumers and guide regulators, while driving U.S. financial leadership on the international stage. The caucus will focus on a number of issues critical to the future of banking and U.S. competitiveness on the global stage, including: - Responsible financial innovation - Distributed ledger technology (blockchain) - Digital assets - Artificial intelligence and machine learning - Data management - Consumer protection - Combating Money laundering - Faster payments - Central bank digital currencies - Stablecoins - Promoting financial inclusion and opportunity for all"

Financial Innovation Caucus: United States Senate

"As you know, a substantial portion of digital asset miners’ energy use is based on renewable sources. Additionally, many miners use other power sources, like natural gas, that may otherwise go unused. JAI Energy in Wyoming is an example of a company that is working with oil and gas producers to make a positive environmental impact through bitcoin mining. Bitcoin mining that utilizes flared gas is also reducing methane emissions in Texas, New Mexico, Colorado, West Virginia, Ohio, and North Dakota. This private sector-led breakthrough is an important tool to a lower emission future. Finally, digital asset mining can have a substantial stabilizing effect on energy grids. It maintains robust baseload levels, yet it can be switched off quickly in times of peak demand. Most importantly, digital assets, and their related mining activities, are essential to the economic future of the United States. Other countries are rapidly moving to adopt digital assets and are attracting large amounts of capital and talent in the hopes of growing their own financial services sectors as digital assets and distributed ledger technology are widely adopted in the coming decade. The United States, as the global financial services leader, cannot rest on its laurels. We must focus on promoting responsible innovation so that our country can compete in a hypercompetitive, globalized economic system. Treasury Secretary Yellen articulated it best last week when she stated regulation should also be “tech neutral.” Favoring one technology over another, including proof-of-work versus proof-of-stake, can stifle innovation, erode future economic gains, and limit affiliated efficiencies. Digital assets are an essential component of promoting financial inclusion and have created new wealth building opportunities for Americans. American leadership in digital asset technologies is essential to ensuring the next generation of Americans can enjoy the prosperity and opportunity that our country has been blessed with. As you evaluate the potential environmental issues surrounding digital assets, the critical role that responsible innovation will play in our long-term economic future cannot be overlooked."

Senator Steve Daines & Colleagues Letter to Michael Regan, Administrator of United States Environmental Protection Agency June 16, 2022

Crypto bill sponsorship

Sen. Steve Daines has put out 1 crypto bill.

United States Innovation and Competition Act of 2021

S. 1260

117th Congress

Co-sponsored
Bill pending

This bill addresses U.S. technology and communications, foreign relations and national security, domestic manufacturing, education, trade, and other matters.

Among other provisions, the bill

  • provides funding for FY2022-FY2026 to support U.S. semiconductor manufacturing, research and development, and supply chain security;

  • provides funding for wireless supply chain innovation;

  • establishes a Directorate for Technology and Innovation in the National Science Foundation;

  • extends through 2025 the authority of the National Aeronautics and Space Administration (NASA) to lease its non-excess real property and related personal property;

  • authorizes various programs and policies related to space exploration;

  • authorizes various international affairs programs and activities, including foreign assistance for the Indo-Pacific region;

  • requires federal infrastructure programs to provide for the use of materials produced in the United States;

  • imposes sanctions on China for cybersecurity and human rights abuses;

  • requires the Department of Health and Human Services to consider national security risks associated with sensitive genetic information;

  • includes initiatives related to elementary and secondary education, including those to increase computer science education;

  • contains provisions related to higher education, including those reauthorizing through FY2027 international education programs and addressing China's influence on institutions of higher education;

  • modifies and expands the schedule for graduated merger filing fees;

  • prohibits federal funding for the Wuhan Institute of Virology;

  • requires the U.S. Trade Representative to take certain actions related to digital trade and censorship practices; and

  • extends through 2027 the Generalized System of Preferences.

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