The U.S. government has attempted to persuade Kenyan officials to lift the suspension of Worldcoin’s operations in the country, but these overtures have been rejected, the Kenyan Interior cabinet secretary has said. The Kenyan government is also considering restricting officials’ use of the social media platform Tiktok. No Review of the Suspension Decision The Kenyan […] Source CryptoX Portal
The House Financial Services and House Agriculture Committees have advanced bills actively seeking to provide a clear regulatory framework to govern the crypro and stablecoin market. In 2023, the crypto industry witnessed a substantial surge in lobbying efforts aimed explicitly at shaping stablecoin regulations and influencing legislative outcomes in the United States, Bloomberg reported. According to the report, lobbying on stablecoin legislation experienced a significant uptick this year, with 161 reports – a remarkable 79% increase compared to last year. The Rise of Stablecoins and Regulatory Urgency For clarity, Stablecoins…
Companies connected to the crypto and blockchain industry in the United States reportedly spent roughly $3 million more on lobbying in the first three quarters of 2023 than over the same period in 2022. According to a Dec. 5 Reuters report citing data from U.S. government transparency group Open Secrets, crypto firms spent roughly $19 million on lobbying from January to September 2023, roughly 19% more than they did over the same period in 2022. Coinbase reportedly led the spending on lobbying at more than $2 million, followed by Crypto.com,…
56 companies have spent an estimated $20 million on crypto lobbying in the U.S., with America’s biggest digital asset exchange Coinbase leading the pack during 2023. As of Nov. 21, crypto lobbying spending in 2023 had nearly rivaled numbers recorded during 2022 due to growing agitation from industry stakeholders and participants for clearer rules that protect U.S. investors without kneecapping domestic digital asset innovation. Coinbase was the leading crypto advocate in Washington D.C., with over $2 million spent in 2023 so far, and more than $7 million directed towards lobbying…
The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets. In an Oct. 18 research note, Berenberg lead analyst Mark Palmer said the primary driver of his “cautious stance” towards Coinbase comes from the various regulatory actions being levied against it in the U.S., along with political headwinds emanating from the Israel-Hamas conflict. Berenberg analysts listed a number of concerns with Coinbases’ future performance. Source: Berenberg…
“The focus on how both the digital asset mining and energy industries can collaborate and work together to bolster energy infrastructure, increase resilience and support energy sustainability and efficiency has been lost in policy conversations,” said Tom Mapes, the new organization’s founder and president, who worked on energy policy at the Chamber of Digital Commerce, a wider crypto advocacy group. Source
CryptoX – Cryptocurrency Analysis and News Portal Negotiators said they had struck a deal on the controversial text on June 28, shortly after organizations linked to numerous blockchains, including Stellar, Polygon, NEAR and Cardano, expressed their concerns in an open letter, but no text has been released until now. Source The post EU’s Data Act Still Contains Controversial Smart Contract Kill Switch, Despite Lobbying by Polygon, NEAR, Stellar, Cardano appeared first on CryptoX. CryptoX Portal
Negotiators said they had struck a deal on the controversial text on June 28, shortly after organizations linked to numerous blockchains, including Stellar, Polygon, NEAR and Cardano, expressed their concerns in an open letter, but no text has been released until now. Source
Stablecoin issuers including Tether, Circle, and others have spent well over a million dollars lobbying lawmakers on Capitol Hill since the start of 2022, according to recent data. Stablecoins have become the center of attention in Washington DC recently as pressure mounts to roll out a regulatory framework for dollar-pegged digital assets. Tether uses the law offices of Michael Jason Lee for its lobbying efforts which are carried out through FTI Government Affairs, a consulting firm with bipartisan connections. According to public interest outlet ProPublica, Tether has spent around $600,000 since…
Crypto industry has been raising its lobbying efforts amid the crypto winter that began last year. In 2022, the market participants spent $25.57 million on lobbying in the United States. This number appears in a study, published by the Money Mongers on Feb. 23. The count is based on data from OpenSecrets, a nonpartisan nonprofit, tracking the lobbying expenses (which should be publicly accessible by law) in the U.S. According to this data, the general rise of the industry’s lobbying budgets made up 922% in five years between 2017 and…