Coinbase said Monday that it is part of a group of cryptocurrency heavyweights. Kraken, Ripple and Andreessen Horowitz have raised and donated $78 million to support “pro-innovation” political candidates in 2024.
“The future of cryptocurrencies in the U.S. depends on the election of candidates and the enactment of policies that support responsible and fair rules for cryptocurrencies,” Coinbase said. “Specifically, overhauling appointed regulators who take regulation through enforcement approaches.” He said. blog post It describes donations made through a cryptocurrency-focused political action committee called Fairshake.
According to its website, Fairshake “supports candidates only through independent activities” and is registered with the Federal Election Commission. Super PACs have consumed most of the transfers. money A motion was made in support of House Financial Services Committee Chairman Patrick McHenry, R.N.C. retirement The PAC also funded Rep. Ritchie Torres, D-N.Y. According to Rep. Tom Emmer, R-Minn. ProPublica.
cryptocurrency lobby
Cryptocurrency lobbying activity has skyrocketed over the past few years, with the cryptocurrency industry’s federal lobbying spending more than doubling in 2022 from the previous year. secret revealed. Last year’s top spenders included Coinbase and Binance, while top beneficiaries were Chairman McHenry and Senator Kirsten Gillibrand, a member of the Senate Banking Committee.
Criminal trial of former FTX CEO Sam Bankman-Fried downfall These are the words of former Binance CEO Changpeng Zhao.
Cryptocurrency legislation will face significant headwinds in 2024 as lawmakers attempt to advance legislation that would regulate stablecoins at the federal level and take a comprehensive approach to regulating the sector. Both bills passed the House Financial Services Committee in July, but are now before the Senate Banking Committee, where they could face challenges next year.
Coinbase itself has also changed. fist To Ohio. The cryptocurrency exchange is hosting an event in Columbus and has started advertising in the state, saying it is “playing for Ohio voters.” columbus dispatch. Ohio Senator Sherrod Brown has been wary of cryptocurrencies ahead of his re-election next year. crackdown In October, suspicions were raised that cryptocurrency was used to finance terrorism.
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