US Crypto Firm Spends $79 million on Political Lobbying in Nearly Two Years

Crypto lobbying spending has increased dramatically over the past seven years, according to a new study by Social Capital Markets. The study shows that lobbying spending by cryptocurrency firms has increased by a staggering 1,386%, from $2.72 million in 2017 to $40.42 million in 2023. The study highlights that lobbying activity has accelerated significantly, with nearly 60% of the total $131.91 million spent on cryptocurrency lobbying occurring in the past two years. In 2022 and 2023, the industry spent a total of $78.94 million to influence policy and regulation.