Crypto Industry Spends $8 Million on Clarity Act Lobbying in 2026

The crypto industry made a significant push in the first half of 2026 to advance the Clarity Act, spending a total of $13 million on lobbying efforts. Out of this, approximately $8 million was specifically allocated to promoting the bill, which aimed to establish oversight rules for the digital asset market in the U.S. Despite the substantial investment, the U.S. Senate did not pass the initiative.

Coinbase emerged as one of the largest sponsors of the lobbying campaign, with other major players including Kraken, Digital Currency Group, Jump Crypto, and Paradigm. The campaign involved both in-house lobbyists and external firms, with at least 42 contractors receiving portions of the funds. Coinbase alone spent about $2.2 million, positioning itself as the largest individual sponsor in the crypto sector.

The industry's lobbying efforts were not limited to the Clarity Act. Other issues such as tax policies, digital mining, and regulatory frameworks were also addressed. The Crypto Council for Innovation and the Blockchain Association were actively involved, with the latter holding over 380 meetings with congressional staff and federal officials.

Despite the lack of legislative success, Coinbase representative Julia Krieger expressed pride in the company's efforts, stating that their work helped bring the bill close to passage and laid the groundwork for future regulatory steps. The scale of Coinbase's spending even surpassed that of Goldman Sachs Group Inc. and Andreessen Horowitz in the securities and investments lobbying category.