Crypto Lobbyists Are Writing Their Own Industry’s Laws



Published
Crypto lobbies and lobbyists are gaining ground in their fight to profit from bills drafted with state legislators to keep the cryptocurrency market free of regulation, leading to an increase in profits for crypto executives and lobbyists. Florida is the most recent state to adopt crypto-friendly legislation as the state recently signed a law that would make it much easier to trade and hold cryptocurrencies in the state in an attempt to draw investment into the industry in Florida.
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Read more HERE:
https://www.nytimes.com/2022/04/10/us/politics/crypto-industry-states-legislation.html

“The debate took less than four minutes.

In the Florida House last month, legislators swiftly gave final approval to a bill that makes it easier to buy and sell cryptocurrency, eliminating a threat from a law intended to curb money laundering. One of the few pauses in the action came when two House members stood up to thank crypto industry “stakeholders” for teaming with state officials to write a draft of the bill.

“Whether you’re Binance or Ethereum, Dogecoin or Bitcoin, this is a great bill,” said Representative John Snyder, a Palm City Republican, referring to crypto exchanges and coins.

Shortly afterward, the House voted unanimously to pass the measure. The Senate followed, sending the bill to Gov. Ron DeSantis for his signature after 75 seconds of deliberations.

Florida’s warm embrace of the cryptocurrency agenda is just the tip of an aggressive industry-led push to position states as crypto-friendly beachheads. Across the nation, crypto executives and lobbyists are helping to draft bills to benefit the fast-growing industry, then pushing lawmakers to adopt these made-to-order laws, before moving rapidly to profit from the legislative victories."

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Category
Cryptocurrencies
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