Crypto industry's lobbying drive will pay off in US elections, Ripple president says

📆 04/06/2024 05:19 p. m.
📰 ChannelNewsAsia

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AMSTERDAM/NEW YORK : The president of U.S. crypto firm Ripple is "optimistic" that a lobbying push by the crypto industry will yield results in this year's U.S. elections, after her company helped the industry lead a record fundraising haul to back political candidates who are crypto-friendly.

FILE PHOTO: Representation of the Ripple payments network is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Speaking at the Money20/20 fintech conference in Amsterdam on Tuesday, Ripple President Monica Long told Reuters that the PAC is bipartisan and has a single focus: supporting candidates who back the regulations desired by the crypto industry. The crypto industry is increasingly trying to influence U.S. lawmakers as it faces heightened scrutiny from regulators and politicians, especially since bankruptcies at major crypto firms in 2022 spooked investors, exposed fraud and misconduct and left millions of crypto investors out of pocket.

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