Crypto lobbying in the USA rose by 116 % with $ 9.56 million in 12 months, which were issued in 2021-
Crypto lobbying in the USA rose by 116 % with $ 9.56 million in 12 months, which were issued in 2021-
cryptocurrency and blockchain companies are concerned about future legislation around the cryptocurrency industry, and money that is spent on lobbying cements this fact. A recently published study shows that the money that is spent on crypto lobbying has risen by 116 % in 12 months, with $ 9.56 million being levered to influence politicians and civil servants.
In 2021, millions of dollars were spent on crypto lobbying and advocacy.
While the industry has been heavily matured for digital currencies and blockchain, some crypto supporters are concerned that regulation and politicians misunderstand innovative technology.
This month researchers of Cryptohead.io published a study that emphasizes crypto lobbying in 2021. In US politics it is lawful to persuade bureaucrats to represent interests, and lobbyists can be found in almost every American industry.
The cryptohead.io study written by James Page shows that the financial services company Robinhood Markets, Inc. based in California, was the biggest donor in 2021 when it comes to crypto lobbying.
From the total of $ 9.56 million output, Robinhood contributed $ 1.35 million or about 14.12 % to crypto lobbying expenses last year. Ripple Labs The blockchain organization behind the crypto-token XRP (xrp) was the second largest crypto lobbying donor.
ripple Labs spent $ 900,000 for these efforts in 2021, followed by Coinbase, which spent $ 785,000. While Coinbase started 23 lobbyists last year, Robinhood 16 started, and Ripple Labs employed 12 lobbyists in 2021.
According to the study by Cryptohead.io, the figures issued in 2021 exceeded the year 2020 by 116 %. In addition, the researchers have also issued the ripple Labs to the Labs' expenditure since 2017.
Since 2017, the data from Cryptohead.io Das Ripple Labs has made $ 1.95 million for crypto lobbying, while Robinhood used $ 1.625 million. Coinbase spent around $ 1.465 million, but the Blockchain Association was the third largest crypto lobbying donor with $ 1.610 million.
According to the data from Cryptohead.io, Block.one has issued around $ 940,000 for crypto lobbying since 2017. Cryptohead.io used data from the organization open secrets provides the estimates of how much companies spend on interests.
The open-secret list also indicates how many lobbyists a company employs. The incoming examination of Cryptohead.io about crypto lobbying, which James Page wrote, can be fully read here .
What do you think about the amount of money that companies spent on crypto lobbying last year? Share your opinion on this topic in the comment area below.
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