As crypto cash floods Washington, Congress eyes gentler regulations – The Washington Post

Cryptocurrency companies and investors have spent at least $149 million over the past four years to thwart tough regulation, elect new allies to Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to soften federal oversight of the embattled industry.

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On Capitol Hill, the industry has shelled out more than $60 million to shape federal policy since the start of 2021, according to filings analyzed by The Washington Post and data from OpenSecrets and Public Citizen, two money-in-politics watchdogs. The lobbying campaign helped spur the House on Wednesday to advance the Financial Innovation and Technology for the 21st Century Act, the first major piece of legislation on cryptocurrency to clear either chamber of Congress.

Source: As crypto cash floods Washington, Congress eyes gentler regulations – The Washington Post