Crypto industry spent $8M lobbying for Clarity Act but failed to get it passed
- —About $8M of the sector's $13M lobbying spend went toward promoting the Clarity Act
- —Coinbase spent $2.2M, Kraken nearly $1M; DCG, Jump Crypto and Paradigm also took part
- —External lobbying firms received $2.4M, trade associations $2.1M, the rest went to in-house teams
- —The Blockchain Association held over 380 meetings with congressional staff and federal officials
Why it matters: The failure of the Clarity Act leaves US digital-asset markets without clear oversight rules, shifting the focus to SEC and CFTC rulemaking.
Source: CoinSpot