Crypto industry boosted lobbying to pass coveted stablecoin bill
[WASHINGTON] Crypto companies and advocates of digital assets boosted their lobbying this year to ensure passage of landmark legislation, delivering the nascent industry its first major policy victory in Washington.
The firms reported spending US$6.9 million in the second quarter, congressional disclosures show, a 21 per cent increase over their outlays in the previous three months. The expanded spending came as Congress advanced industry-backed bills, including stablecoin legislation that US President Donald Trump signed into law last Friday (Jul 18).
During the run-up to the bill’s passage by the House of Representatives, during what Trump dubbed “crypto week”, Bitcoin roared to record highs, breaching US$120,000 for the first…
