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The crypto industry mobilizes in New York over mining moratorium

It is the first time that the crypto industry has flexed its growing lobbying might at the US state level. On May 2, representatives of the national crypto lobby and leaders of New York’s state legislature appeared at New York’s state capitol building in Albany to decry a moratorium on cryptocurrency mining that has passed the Assembly, the legislature’s lower chamber. In the state Senate, the bill is currently awaiting consideration before the Environmental Conservation Committee. The public event was …

Crypto stakeholders dropped more than $4 million on DC lobbying in Q1. Here are the biggest spenders

The crypto lobby keeps growing, and so have its expenses. Industry stakeholders and associated companies spent approximately $4.4 million on federal lobbying in the US in the first quarter of this year. That figure just barely edges out the $4,324,663 from the last quarter of 2021, which capped a year of massive growth in crypto’s work in Washington, DC. The Block collected and analyzed data from Senate lobbying disclosures for crypto firms and associations. The above figures take into account …

Crypto lobbying is becoming ‘incredibly powerful,’ according to Blockchain Association’s Kristin Smith

The Blockchain Association — a trade association that lobbies US politicians on behalf of the crypto industry — saw explosive growth in 2021, thanks in part to the controversy surrounding the crypto tax reporting provisions that were included as part of a $1.2 trillion infrastructure bill that went through Congress last year. In this episode of The Scoop, Kristin Smith, Executive Director of the Blockchain Association, appears on the show for a record-breaking fifth appearance (pulling ahead of FTX’s Sam …

Crypto​.com made a major move into federal lobbying at the start of the year

Major crypto exchange and service provider Crypto.com launched a major lobbying operation at the beginning of 2022. According to lobbying disclosure documents reviewed by The Block, Crypto.com spent $300,000 on lobbying in Q1 of 2022, immediately making it one of the largest players in the crypto lobbying space. It was the first time that the company had reported any lobbying disclosures at all. Crypto.com is globally based in the Cayman Islands but operates in the US via the Delaware-registered Foris …

US crypto trade association lobbying slipped last quarter for the first time in years

The crypto industry’s trade associations in the US saw a dip in their federal lobbying activity last quarter for the first time in years. Per Senate lobbying disclosure reports, federal spending by crypto trade associations dipped from $1,034,663 to $917,406 between the last quarter of 2021 and the first quarter of 2022. It’s only a 10% slip in total lobbying activity, but it means that Q4 was at least a local peak. Source: Senate lobbying disclosures. +con indicate contracts between …

FTX exec launches new Republican PAC with $4 million donation

Ryan Salame, co-CEO of FTX Digital Markets, has launched a new political action committee.  First reported by Politico’s Stephanie Murray, the American Dream Federal Action PAC aims to support “forward-looking conservative leaders who understand the urgency of advancing smart policies that set America up for success.” “We believe that public policy solutions should have a positive impact on people’s lives and play a vital role in protecting Americans’ freedoms, biosecurity and system of free enterprise,” the PAC’s site says.  In …

Crypto Council for Innovation announces leadership team and first full-time hires, including former senator

The Crypto Council for Innovation, a well-heeled but until recently quiet trade association for global blockchain policy, has onboarded its first executive team.  On April 7, the CCI announced five new hires, including three new members of the leadership team, who join executive director Sheila Warren.  The new executives include former Senator Cory Gardner, who is CCI’s chief strategist of political affairs. The council’s new director of communications will be Amanda Russo, who, like Warren, formerly worked with the World …

FTX.US, BinanceUS and Gemini jumped into US lobbying in recent months, yet they trail Coinbase’s $1 million quarterly spend

Per the latest data from the Federal Election Commission, lobbying programs have become practically a must-have for crypto exchanges, especially those based in the US.  As was the case last quarter, Q4 saw Coinbase at the head of the pack. Its internal lobbying program grew to $740,000 with an additional $260,000 in contracts with outside law and lobbying firms.  The combined total of Coinbase’s reported lobbying spending hit $1 million even for the quarter, an unprecedented figure for the industry.  …

Crypto VC heavyweight a16z unveils principles for crypto regulation

Crypto-focused venture capital firm Andreessen Horowitz has put out its vision for the future of crypto regulation. It’s the latest in a flurry of such proposals from industry players. Also known as a16z, Andreessen Horowitz today released its “10 Principles for World leaders Shaping the Future of Web3,” a brief document that aims to ground ongoing international policy debates around crypto. The principles themselves are not especially bombastic. They emphasize the need “to harmonize standards and regulatory frameworks” among nations …

Leading crypto trade association doubled membership, quadrupled funding in 2021

As 2021 is coming to a close, one of the largest players in the cryptocurrency lobby has seen a surge in membership and funding.  The Blockchain Association, a 501(c)6 trade association for the crypto industry, has been a player in Washington, DC since its founding in 2018. But 2021 has seen record growth.  Membership has risen from 28 firms to 65 since January 1. Meanwhile, the 2020 budget that was just shy of $2 million has gone up to nearly …