Stablecoin issuers like Tether and Circle have spent over $1 million lobbying lawmakers since last year

According to ChainCatcher, recent data shows that since the beginning of 2022, stablecoin issuers including Tether, Circle, and others have spent over $1 million lobbying lawmakers in Congress.

According to public interest media ProPublica, Tether has spent approximately $600,000 since the beginning of 2022, with $120,000 spent each quarter lobbying the U.S. Senate and House of Representatives; Circle began its lobbying efforts in partnership with strategic consulting firm Invariant at the end of 2021 and has since spent at least $560,000, with the company's quarterly lobbying budget currently at $100,000; Paxos has spent about $300,000 on lobbying since the beginning of 2022. (Cointelegraph)