News Formal

Explainer: Crypto industry spends millions on U.S. midterm elections

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The cryptocurrency industry has spent millions of dollars on U.S. midterm election races during a year of heavy losses and upheaval in the sector, which hopes to gain sway among legislators as Congress debates tighter regulation of digital assets.

, also have PACs which spent more than $11,000 and $44,000 respectively leading up to the midterm elections, according to FEC data and confirmed by the companies.

Coinbase, the Chamber of Digital Commerce and crypto-focused HODLpac donated to Sen. Ron Wyden, the Democratic chair of the Senate Finance Committee, according to FEC records. Crypto Innovation PAC McHenry and Rep. Maxine Waters, a Democrat who now chairs the House Financial Services Committee, are in talks over a bipartisan stablecoin bill. Though details have yet to be finalized, most analysts view stablecoins as the easist crypto issue for lawmakers to tackle.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Crypto is collapsing

LOL great job, crypto 😂

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The 5 most influential crypto market players in the year when $2 trillion was wiped outIn this historic year for crypto, five players are on the MarketWatch 50 for having the most influence over the current market state of crypto. 🤌 Read the room. Bad timing ffs badtiming
Source: MarketWatch - 🏆 3. / 97 Read more »