Trend: Washington's lobbying for the crypto industry grows

Odaily Planet Daily News As regulators such as the SEC and CFTC crack down on encryption companies, encryption companies are preparing for a showdown in Washington, while policymakers propose competing ways to regulate the asset class. Last year was a banner year for lobbying in the encryption industry, with total federal lobbying spending more than double that of 2021, according to OpenSecrets. And payouts are even higher this year as leading crypto exchanges Binance and Coinbase face SEC lawsuits for violating securities laws. At the same time, the U.S. lags behind other countries and regions such as the U.K. and the European Union, which have made progress in implementing regulatory guidelines for crypto companies. Lobbying firms are seeking to secure seats for crypto companies to discuss such issues. (the block)