Crypto Industry Spent More Than $13 Million on US Lobbying in First Half, $8 Million for CLARITY Act
JH Kim
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 tied 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. Of that total, $8 million went toward efforts to pass the CLARITY Act.
CoinDesk reported on October 30 that Coinbase spent about $2.2 million on lobbying related to the CLARITY Act, while Kraken spent about $1 million.
Digital Currency Group, Jump Crypto and Paradigm also funded lobbying tied to the CLARITY Act.
The industry's lobbying spending also covered tax legislation and issues related to digital-asset mining.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.