Crypto industry gave $8 million to Clarity Act lobbyists who didn't close the deal
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
In the first half of 2026, the crypto industry spent over $13 million on lobbying efforts in the U.S., with about $8 million focused on promoting the Digital Asset Market Clarity Act, which ultimately failed to advance in the Senate. Coinbase led the lobbying spending, contributing approximately $2.2 million, alongside other major firms like Kraken and Digital Currency Group. Despite heavy spending on both internal and external lobbyists, the industry did not secure the passage of the legislation.
Why it matters
According to the source, while the Clarity Act did not pass, it reached a level of progress previously unseen and established some bipartisan agreement, potentially laying groundwork for future legislative efforts. The industry’s lobbying continues to play a role as U.S. regulatory agencies propose new crypto rules, indicating ongoing influence on the regulatory environment. The source does not provide detailed analysis on broader market or user impacts.
Key context
The crypto industry’s lobbying includes both direct efforts by crypto firms' employees and a wide array of outside lobbying firms and trade associations. The Clarity Act represented a central pursuit aiming to regulate the U.S. digital assets markets. Lobbying disclosures show a division of spending on various issues including market structure legislation, tax policy, and regulatory engagement, with some criticism pointing to internal industry disunity and ignored compliance advice.
Key numbers and entities
The crypto sector spent $13 million on lobbying in the first half of 2026, including $8 million specifically tied to the Clarity Act push. Coinbase spent about $2.2 million, Kraken nearly $1 million, and other contributors included Digital Currency Group, Jump Crypto, and Paradigm. At least 42 outside lobbying firms were paid, with Checkmate Government Relations receiving approximately $1.8 million (primarily from Binance) and Sternhell Group $660,000. Trade groups involved include the Digital Chamber, Blockchain Association, and Crypto Council for Innovation.
What remains unclear
The source does not specify the exact allocation of lobbying funds among different legislative or regulatory issues beyond general categories. Details on why the Clarity Act failed in the Senate or specifics on the internal disagreements within the crypto industry lobbyists are not fully explained. The ongoing strategic adjustments by lobbyists or concrete next steps in policy influence efforts remain unspecified.