This year, there have been 161 lobbying disclosure reports in the United States mentioning stablecoin legislation or regulation, an increase of 79% compared to the previous period

ChainCatcher News, data from the U.S. Senate Public Records Office shows that lobbying activities targeting crypto stablecoins surged in the first three quarters of 2023, including lobbying funds from the largest stablecoin issuer, Tether. There have been 161 lobbying disclosure reports mentioning stablecoin legislation or regulation, an increase of 79% compared to the 90 reports mentioning the topic in the first three quarters of 2022. According to data provided by OpenSecrets based on federal disclosure, lobbying funds spent on behalf of Tether skyrocketed to $760,000 during this period, ranking sixth among all cryptocurrency companies, approximately double that of the previous year. Digital asset exchange Coinbase Global revealed that a significant portion of the over $2 million spent in the first nine months of this year was allocated to stablecoins.