Crypto Lobbying Increases 1400% Since 2017: Data Shows
Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...
Crypto lobbying efforts have seen a remarkable surge as companies seek to influence policies shaping digital assets’ future.
The rise highlights the growing importance of lobbying as crypto becomes more integrated into mainstream finance.
According to a recent study by Social Capital Markets, crypto lobbying has increased by nearly 1,400% since 2017. The study reveals that crypto companies spent $40.42 million in 2023 alone, up from $2.72 million in 2017, with 60% of the total expenditure occurring in the last two years.
Lobbying, often misunderstood as bribery, is critical in shaping public policy by enabling industries to communicate their interests to lawmakers.
Lobbying is a constitutionally protected practice in the U.S. and has become a central tool for the crypto sector.
With regulatory scrutiny mounting, crypto companies invest heavily to ensure new policies align with their objectives.
Since 2017, the industry has spent $131.91 million on lobbying, with $78.94 million allocated in 2022 and 2023 alone.
The influx of funds is a response to increasing regulatory pressures, especially in key markets like the U.S., where lawmakers are debating the best approach to regulate digital assets.
Apollo Global Management is leading the charge in lobbying expenditures, having invested $7.56 million in 2023 under its Apollo Crypto arm.
The Managed Funds Association followed with $4.11 million, while Coinbase, a prominent crypto exchange, spent $2.86 million in the same year.
Coinbase’s investment witnessed a 3,475% surge since 2017, reflecting
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