Here’s what the biggest stablecoins spent on lobbying in the US
The firms behind the three largest stablecoins Tether, Circle, and Paxos have all been lobbying in Washington DC over the past year. Tether retains FTI Government Affairs through the Law Offices of Michael Jason Lee, Circle retains Invariant, and Paxos retains Mindset Advocacy. FTI Government Affairs began its work for Tether in the first quarter of 2022 and has been paid approximately $120,000 in each quarter ever since. Circle was the first to begin lobbying with Invariant, beginning its work at the end of 2021. It was paid between $90,000 and $100,000 for each quarter . Paxos began in the same quarter as Tether but has invested significantly less, spending approximately half of what Tether has spent on lobbying so far. The disclosures for FTI Government Affairs and Mindset Advocacy don’t mention any specific pieces of legislation. However, the disclosure for Invariant does mention monitoring the Digital Commodities Consumer Protection Act and the Responsible Financial In...