The cryptocurrency industry spent $13 million on lobbying in the first half of the year, but the Clarity Act has not made progress in the Senate

The cryptocurrency industry spent $13 million on lobbying in the first half of this year, with the largest portion going towards promoting the Clarity Act, which has not made progress in the US Senate. Coinbase leads related lobbying expenditures, with multiple cryptocurrency companies and industry associations hiring lobbyists, and the industry paying millions of dollars in service fees to at least 42 external professional organizations.