Crypto Industry Spent $8 Million on Clarity Lobbying
Coinbase, Kraken, and other players put millions into a federal market structure, but the Clarity Act stalled in the Senate. Meanwhile, the SEC and CFTC are looking for their own paths.
Key Takeaways
- In the first half of 2026, the crypto sector spent nearly $8 million on direct lobbying around the U.S. Clarity Act.
- In total, the sector spent more than $13 million on lobbying, with Coinbase and Kraken as the biggest spending items.
- The Clarity Act did not make it through the Senate, while the SEC and CFTC are meanwhile exploring their own rules and a sandbox for tokenized securities.
In the first half of 2026, the crypto sector spent nearly $8 million (€7 million) on direct lobbying around the U.S. Clarity Act, but the bill still did not pass. Lobbyists were everywhere on Capitol Hill, but a clear federal market structure for crypto remained out of reach.
Millions to Washington
According to an analysis of federal lobbying data, the sector spent more than $13 million (€11.4 million) on lobbying in total during those six months. The biggest chunk of that, $8 million (€7 million), was tied to the market structure bill in Congress. The filings do not show exactly how much of the remaining amount went to other issues, such as taxes, anti-money laundering rules, or the rollout of the GENIUS Act.
Within that campaign, about half of the registered lobbyists worked directly for crypto companies themselves. The rest came from outside firms and industry groups. The Blockchain Association said its members held more than 380 meetings with congressional staff and federal officials, along with five fly-ins and 15 staff briefings on market structure, DeFi, tax policy, and national security.
Coinbase and Other Big Players
Coinbase spent about $2.2 million (€1.9 million) on lobbying work that also included support for the Clarity Act. Kraken spent nearly $1 million (€0.9 million). Other big names included Digital Currency Group, Jump Crypto, and Paradigm. Outside firms such as Michael Best Strategies, Goldstein Policy Solutions, and Phronesis DC each received at least $200,000 (€176,100) for their work in the first half of 2026.
The push came at a time when the Clarity Act had already hit a major roadblock earlier. The U.S. Senate let the bill stall on September 15 with a 49 to 50 vote, well below the 60 votes needed to move forward. At the same time, regulators like the SEC and the CFTC are looking for their own paths, including new rules and a proposed sandbox for tokenized securities. The CFTC had already started its own regulatory track after that failure.
Why This Matters
For European crypto readers, this shows how strongly the fight over U.S. rules still affects the broader crypto market. Big companies and lobbying groups have long been pushing for a clear federal framework because they say it is needed for innovation and investor protection. The fact that the bill stalled does not mean the debate is over, but it does mean the next round will likely run through Washington and the regulators again.
