Lawmakers need education if they are going to regulate digital currencies. Ripple Labs and Coinbase seek to do just that, as they are amongst the list of crypto companies that spent the most money on lobbying in 2021.
money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These organizations were the lobbying leaders during the past five years as well, although with different rankings.Robinhood spent $1.35 million on lobbying in 2021 and was the only crypto-related organization to spend more than $1 million. Ripple Labs, in second place, spent $900,000. The Economista total of $5 million was spent by crypto firms on lobbying in the first three quarters of 2021.
Blockchain Association executive director Kristin Smith said in an email to Cointelegraph that “Spending is only one metric of influence, and these roundups do not often provide context on the effectiveness of dollars spent.” Smith noted the Crypto Head report “mixes companies with different focuses, multi-member trade associations and other entities, making a one-to-one comparison difficult.
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