US crypto lobbying expenditure doubles in 2021: Here are the biggest spenders
Ripple Labs spent the most on crypto lobbying in the U.S. over the past five years, with expenses totaling $2 million. Cryptocurrency advocates in the United States have been increasingly putting efforts to support the industry, with crypto lobbying spending growing significantly in recent years.Crypto-related lobbying expenditure in the U.S. totaled at $4.9 million in 2021, more than doubling from $2.3 million in the previous year, according to a new study by the crypto analytics startup Cryptohead.io. The study is based on lobbying tracking data obtained from research and government....
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The crypto exchange declared it spent $120,000 on lobbying activities in the U.S. in the third and fourth quarters of 2021. The Crypto Council for Innovation, or CCI, has announced that Gemini will be joining its list of crypto-friendly firms aimed at supporting lawmakers on related regulation.In a Thursday announcement, the CCI said that effective as of this week Gemini has joined Coinbase, Block, Fidelity Digital Assets, Paradigm, and others in an effort to “help accelerate [the group’s] growth and global leadership,” according to CEO Sheila Warren. Gemini head of policy and regulatory....
Much like other activity in the digital asset space, crypto lobbying has been picking up during the past year. Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that spent the most money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These....
Per the latest in lobbying disclosures, Ripple Labs shelled out for its lobbying on legislation looking to change the treatment of crypto under securities laws. Ripple Labs spent $690,000 on lobbying in the United States in 2020, which still didn't save the firm from the Securities and Exchange Commission.Per legally mandated disclosures for 2020, Ripple's lobbying program dwarfed those of other firms in the crypto industry. Coinbase, which looks to become the first American crypto exchange to issue public shares, spent $230,000 over the same year, while other exchanges like Binance.US,....
Cryptocurrency and blockchain firms are concerned about the future legislation revolving around the cryptocurrency industry and money spent on lobbying cemented this fact. A recently published study indicates that money spent on crypto lobbying jumped 116% in 12 months with $9.56 million leveraged to seek to influence from politicians and public officials.
Millions of Dollars Were Spent on Crypto Lobbying and Interest Representation in 2021
While the digital currency and blockchain industry has matured a great deal, a number of crypto advocates are concerned about regulation and....
The US Securities and Exchange Commission (SEC) has passed through pressures from the legislative arm; the tension increased as the SEC devised measures for crypto regulations earning displeasure from different people, especially the lawmakers. The lawmakers are now scrutinizing the watchdog. Also, they’ve noted the increasing lobbying activities from the crypto space in the past […]