Crypto firms spent almost $8m lobbying for Clarity Act that failed to advance

The crypto industry spent almost $8 million on direct lobbying in the first half of 2026 tied to the Clarity Act, the US market structure bill that failed to advance in the Senate, according to a CoinDesk review of federal lobbying disclosures.

In total, the sector spent more than $13 million on lobbying in the six-month period. Of the roughly $8 million linked to the Digital Asset Market Clarity Act, about $2.4 million went to outside lobbying firms and $2.1 million to lobbyists employed by trade associations, with the rest funding companies' own in-house operations. About half of the registered lobbyists work directly for crypto firms.

Coinbase, the largest single lobbying spender in crypto, spent about $2.2 million on lobbying that included advocacy for the bill, and Kraken spent almost a million, according to their disclosures. Other major spenders on the bill included Digital Currency Group, Jump Crypto and Paradigm. Money sent to professional firms was spread across at least 42 lobbying shops.

"We're proud of what Coinbase's in-house team and outside advisers achieved," said Coinbase spokesperson Julia Krieger, adding that the effort "helped bring comprehensive, bipartisan market structure legislation to the brink of passage".

Critics saw division. Corey Frayer, a former SEC official who is now director of investor protection at the Consumer Federation of America, said he saw "very big internal infighting and a lack of unification among the industry on significant policy decisions in the bill".

The Blockchain Association met congressional staff and federal officials more than 380 times, said its chief policy officer, Lindsay Fraser. This lobbying is separate from the more than $100 million the industry has raised in campaign funds to help elect friendly politicians.

Even the most optimistic are uncertain whether the bill can get another shot in the lame-duck session at the end of the year, CoinDesk reported. Lobbying is now shifting towards the Securities and Exchange Commission and the Commodity Futures Trading Commission, which are writing crypto rules. Following this month's Senate vote, the association is "taking stock of where things stand", Fraser said, and will deepen its work with both regulators.

Sources

• CoinDesk