After the Clarity Act stalled, Coinbase and other crypto organizations reduced their third-quarter lobbying spending
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AT A GLANCE
Coinbase and other organizations still spent more than 4000000 USD on federal lobbying in the third quarter, but spending declined from the second quarter.
Article
After the Clarity Act stalled, Coinbase and other crypto organizations reduced their third-quarter lobbying spending
PANews October 22 reported that, according to Bloomberg Government's analysis of the latest disclosures, Coinbase and several large crypto industry organizations collectively spent more than 4000000 USD on federal lobbying in the third quarter, marking the sixth consecutive quarter above this level, but down from the second quarter. Progress on the industry's top legislative priority, the Clarity Act, was September set back. In addition, some lobbying firms ended their relationships with crypto clients in the third quarter.
According to Bloomberg Government's analysis of the latest disclosures, Coinbase and several large crypto industry organizations collectively spent more than 4000000 USD。
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Related spending has exceeded 4000000 USD。
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for six consecutive quarters. Third-quarter spending declined from the second quarter.
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Progress on the Clarity Act was set back in September.
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Some lobbying firms ended their relationships with crypto clients in the third quarter.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The crypto industry continues to invest funds in federal lobbying, but total third-quarter spending was lower than in the second quarter. At the same time, progress on the Clarity Act, which is a focus of the industry, was set back, and some lobbying firms also stopped working with crypto clients.
Why it matters to readers
This reflects the policy-lobbying investment of large crypto organizations and the progress of the legislation they are focused on, but the original text does not state that the decline in spending was caused by the setback to the legislation.
Beginners can view this as current information about the crypto industry's policy activity and should not use it alone to assess market prices or the performance of specific projects.
Risks and unknowns
The original text does not provide details of the disclosure filings or the specific spending amounts of each organization.
It does not explain the specific procedures or reasons for the setback to the Clarity Act.
It does not list the lobbying firms, crypto clients, or reasons for ending the relationships.
Unable to confirm whether the decline in lobbying expenditure is causally related to the bill’s failure to advance.
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Federal lobbying
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