Crypto industry gave $8 million to Clarity Act lobbyists who didn’t close the deal
In the first half of this year, the sector poured millions into lobbying, with most of it tied to pushing the U.S. market structure bill to a goal it never reached.
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Summary
- The biggest chunk of the crypto industry’s $13 million devoted to lobbying in the first half of the year was said in federal disclosures to involve pushing the Clarity Act, which failed to advance in the U.S. Senate.
- CoinDesk reviewed the sector’s lobbying disclosures, finding the Coinbase exchange led the expensive lobbying charge, though a long list of crypto firms and trade groups also ran their own lobbyists.
- The industry additionally spent millions on professional, outside firms — at least 42 of them.
