Digital asset lobbyists flooding D.C.; JPMorgan v Gemini heats up
The post Digital asset lobbyists flooding D.C.; JPMorgan v Gemini heats up appeared on BitcoinEthereumNews.com. Homepage > News > Business > Digital asset lobbyists flooding D.C.; JPMorgan v Gemini heats up Digital asset lobbyists are descending on Washington, while the crypto kids aren’t making nice with their new Wall Street rivals. The more welcoming reception given to digital asset operators on Capitol Hill has led to a surge in the number of lobbyists looking to advocate for their crypto clients. The Hill reported that “at least 73” crypto companies/advocates filed disclosures acknowledging their spending during the three months ending June 30. “At least 27” of these were filing their first lobbying disclosure forms this year. All told, crypto-focused companies spent $11.4 million in Q2, with the newbies accounting for $2.8 million of that sum. (Bloomberg reported a smaller overall crypto spending figure, but nonetheless noted that it was 21% higher than its Q1 total.) The Hill’s overall figure doesn’t include a combined $1.6 million in lobbying by venture capital group Andreesen Horowitz (a16z) (NASDAQ: ZADIHX) and Wall Street investment firm Blackrock (NASDAQ: BLK), both of which have significant crypto interests but also lobby on a range of other financial matters. Among those new to the crypto lobbying party was KuCoin, the Seychelles-based digital asset exchange that blocked U.S. customers in January after reaching a $300 million settlement with the Department of Justice (DoJ) for operating an unlicensed money transmitting business. KuCoin spent $1 million lobbying in Q2, presumably looking for a way back into the U.S. market, although its settlement imposed a two-year timeout. KuCoin’s outlay topped that of U.S. exchanges Coinbase (NASDAQ: COIN) ($970,000) and Crypto.com ($430,000), as well as the Blockchain Association ($490,000). The Solana Policy Institute, a group that launched on March 31, spent $560,000, while another newcomer, Gala Games (co-sponsor of this year’s White House’s Easter Egg Roll), spent $50,000. Another lobbying newcomer, the Polymarket prediction betting site, spent $90,000 on…
The post Digital asset lobbyists flooding D.C.; JPMorgan v Gemini heats up appeared on BitcoinEthereumNews.com.
Homepage > News > Business > Digital asset lobbyists flooding D.C.; JPMorgan v Gemini heats up Digital asset lobbyists are descending on Washington, while the crypto kids aren’t making nice with their new Wall Street rivals. The more welcoming reception given to digital asset operators on Capitol Hill has led to a surge in the number of lobbyists looking to advocate for their crypto clients. The Hill reported that “at least 73” crypto companies/advocates filed disclosures acknowledging their spending during the three months ending June 30. “At least 27” of these were filing their first lobbying disclosure forms this year. All told, crypto-focused companies spent $11.4 million in Q2, with the newbies accounting for $2.8 million of that sum. (Bloomberg reported a smaller overall crypto spending figure, but nonetheless noted that it was 21% higher than its Q1 total.) The Hill’s overall figure doesn’t include a combined $1.6 million in lobbying by venture capital group Andreesen Horowitz (a16z) (NASDAQ: ZADIHX) and Wall Street investment firm Blackrock (NASDAQ: BLK), both of which have significant crypto interests but also lobby on a range of other financial matters. Among those new to the crypto lobbying party was KuCoin, the Seychelles-based digital asset exchange that blocked U.S. customers in January after reaching a $300 million settlement with the Department of Justice (DoJ) for operating an unlicensed money transmitting business. KuCoin spent $1 million lobbying in Q2, presumably looking for a way back into the U.S. market, although its settlement imposed a two-year timeout. KuCoin’s outlay topped that of U.S. exchanges Coinbase (NASDAQ: COIN) ($970,000) and Crypto.com ($430,000), as well as the Blockchain Association ($490,000). The Solana Policy Institute, a group that launched on March 31, spent $560,000, while another newcomer, Gala Games (co-sponsor of this year’s White House’s Easter Egg Roll), spent $50,000. Another lobbying newcomer, the Polymarket prediction betting site, spent $90,000 on…
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