Crypto Lobbying Surges: Firms Spent $79 Million in Two Years

IconCryptoNewsTerminal Staff16 Jul, 2024

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Crypto Lobbying Surges: Firms Spent $79 Million in Two Years

The cryptocurrency industry has spent a significant sum on political lobbying in recent years, with $79 million being poured into influencing industry policy and regulation during 2022-2023 alone. According to a report by CryptoSlate, this represents nearly 60% of the $132 million total spent on crypto lobbying to date. The report highlights a remarkable surge in lobbying activities, as crypto firms spent a mere $2.72 million on lobbying in 2017. This figure has since skyrocketed by approximately 1,386%, reaching $40.42 million in 2023. The increased lobbying efforts suggest a growing recognition by crypto firms of the importance of engaging with policymakers and regulators. As the industry continues to evolve and face regulatory scrutiny, lobbying activities are likely to play a crucial role in shaping its future.

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