More than $20 million has been spent so far on lobbying efforts on behalf of the cryptocurrency industry in the USA.
According to the research conducted by CoinGceko, lobbying efforts in favor of cryptocurrencies have increased since the beginning of the year. $20.19 million money was spent. to this number in the fourth quarter expenses not included.
The total lobby budget of cryptocurrency companies in 2019-2020 was approximately 3 million dollars was at the level. This number increased to $8.5 million in 2021 and $22 million in 2022.
There was no major change in the number of companies contributing to lobbying efforts. While this number was 57 last year, it was announced as 56 this year.
The company that spent the most on lobbying in the 2019-2023 period was Coinbase with $7.5 million. It is followed by Blockchain Association with $5.23 million and Ripple with $3.46 million.