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Crypto Lobbying Increased in Third Quarter as Regulation Looms

Oct. 21, 2021, 3:46 AM

Cryptocurrency companies and associations built up their lobbying muscle in the third quarter as Congress and regulators discuss new rules for the industry.

Crypto players hired dozens of new lobbyists in a frantic -- but unsuccessful -- bid to fight off a provision in a bipartisan infrastructure bill that would increase tax-reporting requirements for crypto companies.

That bill, which was passed by the Senate in August and awaits a vote in the House, led firms including crypto exchange Binance.US to hire lobbyists for the first time in the third quarter. The burgeoning sector also faces a stream of new crypto ...

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