Crypto Industry Spent More Than $13 Million on US Lobbying in First Half, $8 Million for Clarity Act
Summary
- The cryptocurrency industry spent more than $13 million on lobbying activities in the US in the first half of this year.
- Of that total, $8 million was used to lobby for passage of the Clarity Act.
- Coinbase, Kraken, Digital Currency Group, Jump Crypto and Paradigm spent money on lobbying related to the Clarity Act, tax legislation and digital-asset mining.
Forecast Trend Report by Period
The cryptocurrency industry spent more than $13 million on lobbying in the US in the first half of this year, with $8 million of that total going toward efforts to pass the Clarity Act.
Coinbase spent about $2.2 million on lobbying tied to the Clarity Act, while Kraken put in about $1 million, according to CoinDesk on October 30.
Digital Currency Group, Jump Crypto and Paradigm also spent money on lobbying related to the Clarity Act.
The industry's lobbying spending also covered issues including tax legislation and digital-asset mining.
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