Crypto Industry Boosted Lobbying to Pass Coveted Stablecoin Bill
(Bloomberg) — 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.
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The firms reported spending $6.9 million in the second quarter, congressional disclosures show, a 21% increase over their outlays in the previous three months. The expanded spending came as Congress advanced industry-backed bills, including stablecoin legislation that President Donald Trump signed into law last Friday.
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,…
