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- These lobbyists weigh in on how lawmakers should regulate this emerging technology.
- They say the hard part of their job is educating lawmakers about what cryptocurrency is.
- They are also monitoring the infrastructure bill, which could include provisions on digital currencies.
There is a growing interest in cryptocurrency in Congress, and lawmakers are considering how best to regulate this emerging market.
This is where crypto-lobbyists come in.
Cryptocurrency lobbying interests have collectively spent $ 2.4 million this year, in part to rally to elements of the bipartisan Senate infrastructure bill, according to the non-partisan research organization Open Secrets.
A big showdown took place in August, when digital currency advocates and lobbyists fought against a tax reporting regulation in the bill that would require companies facilitating digital currency transactions that are defined as ” brokers “to submit their transactions to the Internal Revenue Service.
Even though their efforts ultimately failed, the effort signaled that cryptocurrency interests are willing to spend hard cash to fight for their cause. Digital currency advocates and lobbyists say their work in Washington, DC is just beginning.
Meet 12 lobbyists who are shaping the cryptocurrency discourse on Capitol Hill:
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