Bitcoin
As crypto money floods Washington, Congress seeks gentler regulations
Cryptocurrency companies and investors have spent at least $149 million over the past four years to thwart strict regulations, elect new allies to Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to ease oversight. federal of the embattled industry.
The wide range of backers includes Coinbase and Ripple, which the US government recently sued for allegedly violating federal rules designed to protect investors from harm. Even while under close scrutiny, these and other major crypto companies fought not only to dismiss the accusations but also to completely rework the laws, mounting a costly lobbying effort that left no part of Washington untouched.