WASHINGTON — Spending by the cryptocurrency lobby hit a record high last quarter, as members of Congress from both parties and chambers proved willing to engage with the industry’s top priorities.
The industry and its advocates spent at least $6.8 million lobbying Congress and the federal government from April through the end of June, up 31 percent from the previous quarter, according to lobbying disclosures. They spent at least $12.1 million in the first half of this year, up 17 percent from the $10.3 million spent in all of 2021, previously the high-water mark.
Cryptocurrency advocates and critics alike point to the flood of legislation addressing different parts of the ecosystem, including tax reporting, stablecoins and regulation of markets, as evidence of Washington’s growing attention to the industry.
