Regulation
As cryptocurrencies flood Washington, Congress looks to looser regulations
Cryptocurrency companies and investors have spent at least $149 million over the past four years to fight tough regulation, elect new allies in Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to soften federal control over countries in difficulty. industry.
The wide range of financial backers include Coinbase and Ripple, which the U.S. government recently sued for allegedly violating federal rules meant to protect investors from harm. Even as they have come under intense scrutiny, these and other major cryptocurrency companies have fought not just to dismiss the charges, but to completely redraft the laws, mounting a costly lobbying effort that has left no part of Washington untouched.