As cryptocurrency has evolved from a fringe technology into a trillion-dollar industry, its biggest players have poured millions into lobbying efforts to shape laws in their favor—often at the expense of consumers, the environment, and financial stability.
Who’s Behind the Lobbying Surge?
- Coinbase: Created the “Stand with Crypto” PAC and spent over $7.5 million lobbying for favorable regulations.
- Andreessen Horowitz (a16z): Built an in-house policy team and published legal frameworks to influence lawmakers.
- Blockchain Association: Represents over 100 crypto companies and regularly briefs Congress.
- Ripple Labs: Advocates for regulatory clarity after its legal battle with the SEC.
- KuCoin: Spent $1 million lobbying in 2025 despite being banned from operating in the U.S. due to money laundering violations.
What Are They Fighting For?
- Token Reclassification: Arguing that cryptocurrencies should be treated as commodities, not securities, to avoid strict oversight.
- Tax Loopholes: Seeking lenient taxation on staking rewards and crypto transactions.
- Banking Access: Pressuring regulators to allow banks to offer crypto custody services.
- Stablecoin Legitimacy: Promoting laws like the GENIUS Act to give stablecoins federal approval.
Tactics of Influence
- Capitol Hill Stunts: Vending machines with chocolate bars urging “yes” votes on crypto bills.
- Super PACs: Over $10 million spent to elect pro-crypto candidates in 2024.
- Legislation Drafting: Industry-backed groups help write bills like the GENIUS and CLARITY Acts.
Why It Matters
These efforts distort democratic policymaking by prioritizing industry profits over public interest. They risk:
- Weak consumer protections
- Increased financial instability
- Environmental degradation
- Erosion of privacy and accountability