According to data from OpenSecrets, an organization that tracks political donations, Coinbase and Binance spent a total of $2.4 million on lobbying in the first half of 2023. Binance spent over $1 million to influence lawmakers on Capitol Hill, Coinbase spent $1.4 million during the same period. Other companies with significant lobbying expenditures include Ripple, Crypto.com, and the Blockchain Association.
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Coinbase and Binance's lobbying spending reached $2.4 million in the first half
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Pennsylvania Passes "Bitcoin Rights" Bill and Considers Strategic Bitcoin Reserve Amid Criticism and Potential Economic Benefits
Pennsylvania has passed the "Bitcoin Rights" bill, which protects the rights of individuals and businesses to self-custody digital assets, operate blockchain nodes, and conduct transactions without interference from restrictive municipal ordinances. This move establishes Pennsylvania as a leader in digital asset regulation and demonstrates its commitment to fostering innovation in the sector while addressing issues such as economic empowerment and financial inclusion. Additionally, two Republican Representatives have introduced the Strategic Bitcoin Reserve Act, which would allow the state treasurer to allocate up to 10% of Pennsylvania's funds into bitcoin and crypto-based exchange-traded products. However, critics have raised concerns about the risks of holding bitcoin in government reserves, including extreme price volatility and security vulnerabilities, as well as environmental concerns related to bitcoin mining's energy consumption. Despite this, Pennsylvania's proactive approach to fostering a crypto-friendly environment positions the state as a model for equitable digital asset adoption and underscores the growing role of state governments in shaping the future of the digital economy. -
It is reported that Trump may meet with Ripple CEO and other crypto industry representatives to discuss the formulation of US crypto policy
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EU regulators set out guidelines on restrictions for cryptocurrency providers
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Cardano founder confirms he will work with Trump administration on crypto legislation
Cardano founder Charles Hoskinson has confirmed plans to collaborate with the US government under the leadership of President Trump to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry, which has faced uncertainty and regulatory challenges for years. Hoskinson announced these plans in a recent speech and stated that developing positive policies regarding cryptocurrency requires support from both the Democratic and Republican parties. He stated that his company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on developing a legislative framework that incorporates the provisions of the 21st Century Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA). He added, "I will work with legislators and the government to push for a bipartisan bill to be passed." -
UK House of Lords backs Digital Asset Property Bill
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