Crypto could justifiably spend even more on lobbying
The cryptocurrency political action committee (PAC) Fairshake is actively raising funds for the 2026 election, following a controversial 2024 cycle. Critics argue that political spending by the cryptocurrency industry is unfair and inefficient, but the Supreme Court's Citizens United ruling allows unlimited spending on independent political speech. The cryptocurrency industry's expenditures are deemed necessary to safeguard its interests against regulatory threats, particularly from the Biden administration and agencies like the SEC. Political spending is viewed as a strategic investment to influence elections that could determine the industry's survival. The industry believes its financial contributions are justified, given the potential future value at stake. The regulatory landscape remains precarious, necessitating continued political advocacy.
