US crypto lobby has become more powerful than ever

The growing debate around cryptocurrency regulation is a matter of concern among crypto-related entrepreneurs.  I am no exception. The problem is that restrictive policies stifle innovation in the industry. In response to these unfair anti-crypto measures, crypto companies started organizing their own crypto lobby. They realized that it’s practically impossible for the crypto sector to advance without a strong presence in Washington D.C. to influence government policy and regulation.


Recent reports indicate that crypto lobbying efforts increased tenfold. The most active here are major firms like Coinbase and Apollo Global Management. As a result, the US crypto lobby has become more powerful than ever. They work tirelessly to ensure the interests of cryptocurrency businesses. However, this surge is just the beginning. When compared to other sectors, it turns out that the crypto industry is underrepresented in lobbying.

 

This is a developing industry but the rise of lobbying is significant. It took 7 years for 1386% growth and the efforts are ramping up.

According to Statista, cryptocurrency companies spent $4.26 billion in 2023. Yet, this figure represents only 1% of all lobbying expenditures in the USA. So, there is a pressing need for the lobby to become stronger. It won’t be a magical cure for all ills but will fight for basic rights and ensure the industry’s growth. We just can’t afford to stay passive not to lose all that huge potential it offers.



#CryptoLobby #WashingtonDC #Cryptocurrency #Lobbying #Innovation #TechLobby #CryptoIndustry #PolicyInfluence #Government

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