Regulation Retaliation

 

Regulation Retaliation

The money spent on crypto lobbying in 2021 is estimated to have amounted to around 5 million US dollars. Now this big tech companies spend on their own lobbying efforts. But crypto lobbying is growing at a much faster rate having more than doubled in the last year alone.

Now Coinbase is putting together a PAC (Political Action Committee) which will help fund the campaigns of Pro-Crypto Politicians in the United States.

A former world economic forum executive also recently left her post to head the Crypto Council for innovation a crypto lobbying group in the United States.

Even the NFL is lobbying the SEC to be more friendly towards cryptocurrency now when you couple this with a December survey of American voters which found that they wouldn't vote for Anti Crypto Politicians you have a recipe for some Pro-Crypto Regulation.

This Pro Crypto pressure might be a part of why the IRS came out to confirm that Cryptocurrency Miners validators and developers won't be subject to the problematic provision in the infamous infrastructure bill.

The only wild card left in the equation seems to be all the concerns around the energy use associated with Proof-of-Work Crypto Mining which seems to be limited to a fringe group of US politicians.