[2022-03-08] Number of Cryptocurrency Lobbyists Nearly Tripled Since 2018 and...

[NeuroticFish]

Capitol Coin: Number of Cryptocurrency Lobbyists Nearly Tripled Since 2018 and Spending Quadrupled, With Help from Revolving Door Lobbyists and Corporate Allies
https://www.citizen.org/article/capitol-coin-cryptocurrency-lobbying-revolving-door-report/

It's a bit old news/report, I've noticed it now since CZ tweeted it.


It's quite long for my liking and I don't understand 100% what all those associations are, but the charts show it clearly: numbers are steadily increasing. Crypto lobbying is a fact and the money (and people) involved is on the rise.
Again, nothing really new nor unexpected, though I find the numbers impressive.

...Yes, I've seen that some (cough Ripple cough) are also lobbying shitcoins, we just can't have all nice and clean. Still...



The news item also shows big names giving up government job and turning to crypto and using their know-how for lobbying crypto.
The article tries to bring some weak (?) criticism, but I gracefully ignored that part (I don't care that much of the fears expressed by people still afraid of thunder)

Like the megabanks, tech companies, fossil fuel corporations, and other industries, the crypto sector is putting millions and millions of dollars into pushing lawmakers to put their private business interests before the public interest. In Washington, D.C., where money speaks loudly, the digital currency lobby is determined to have a say. In the face of this lobbying spree, even the most crypto-friendly lawmakers should pause to ask whether what is good for this volatile sector is what’s best for their constituents.

[davis196]

That was pretty much expected.
The big banks and corporations in the fiat world have lobbyists and are spending money to influence the politicians for decades.(Replace the word "influence" with the word "corruption" if you want  )
Many crypto companies became really big during the last few years(Coinbase is the obvious example),so they have a budget for lobbyists and they are going to spend that budget.
The "big business" always had to work with the politicians,in order to survive and thrive.
That's how capitalism works,unfortunately.All the preaching about "the power of the free market" is just BS for the masses.There's nothing shameful in hiring lobbyists.At the end of the day,all those crypto haters and FUDsters in the government and the central bank will have to be stopped by someone.

[LeGaulois]

Do you remember some weeks ago when Bitmex announced acquiring a bank (in Germany or The NL)?
I began to realize that it was the best way to lobby. It's like the Trojan Horse method during the Ancient Greek story and it opens the doors for Bitcoin.

Just imagine if 5 companies bought 5 banks. Wow.
Look in The US: it's common to see bankers end up working for the government and vice versa, government workers/politicians end up working for banks.

I'm too not so surprised to see this number increasing since it's an organic effect. More companies are growing, the older ones become bigger, and since they have to protect their personal benefits (commercial, income, a viable political framework, etc) they do their their best to push the sauce.

As for the 'skeptical experts' mentioned in the article, they're experts probably in something but for sure not about Bitcoin. It's still the same argument used for years, and every year it's debunked. Bitcoin pollutes and Bitcoin is a Ponzi scheme. Can't they find something else from time to time? It remembers me of Europe recently that wanted to ban BTC mining because 'it pollutes'. They used the wrong source to get data

[NeuroticFish]

Just imagine if 5 companies bought 5 banks. Wow.

It would indeed be wow, but I don't expect crypto businesses have that much money.
Striking a deal with the more open minded banks would be a more realistic approach I've seen discussed; it would also open the door for one buying the other at some point.

As for the 'skeptical experts' mentioned in the article, they're experts probably in something but for sure not about Bitcoin.

Most probably "financial experts". And the last 5-10 years have shown that they - by far - cannot comprehend Bitcoin. It was not in the books they've learned from at school and they lack the deep knowledge together with the imagination to go one step forward. And you know the mindset: if one is not with them, it must be against them.