Cryptocurrency companies and investors have spent at least $149 million over the past four years to thwart tough regulation, elect new allies to Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to soften federal oversight of the embattled industry.
The wide array 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 withering scrutiny, these and other major crypto firms have fought not only to rebuff the charges but to remake the laws entirely, mounting an expensive lobbying effort that has left no part of Washington untouched.
This article was originally published by a www.washingtonpost.com . Read the Original article here. .
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. BitcoinNews.live does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
