Crypto Lobbying Spending in the U.S. Witnesses a Meteoric Rise
CryptoNewsTerminal Staff08 Sep, 2024
Crypto Lobbying Spending in the U.S. Witnesses a Meteoric Rise
The United States crypto industry has ramped up its lobbying efforts, with spending skyrocketing from a mere $80,000 in 2017 to a staggering $2.9 million in 2023, marking a 3,475% surge. Over the past seven years, the annual growth rate of lobbying expenses has reached an impressive 1,386%. This surge in lobbying activities aligns with heightened scrutiny from the US Securities and Exchange Commission (SEC), emphasizing the industry's growing need for regulatory clarity and representation. Among the notable clients engaging in crypto-related lobbying is the investment management giant BlackRock. This increased lobbying activity reflects the industry's efforts to shape regulations and influence policy decisions that could impact the development and adoption of cryptocurrencies and related technologies.
