American blockchain payments company Ripple Labs Inc. has been named among the top spenders in crypto lobbying efforts in the United States.
Ripple Labs Doubles Down on Lobbying Efforts
Lobbying is considered a major part of the corporate finance ecosystem in Washington DC as entrepreneurs explore avenues to get lawmakers to support policies that can transform their ecosystems. According to Coingecko’s latest report, Ripple Labs has committed as much as $3,460,000 to this drive from 2019 to date.
As one of the pioneering firms in the blockchain payments scene, Ripple Labs faced a roadblock in the United States in December 2020 when the Securities and Exchange Commission (SEC) filed its lawsuit against the firm. The allegations at the time hinged on claims that the firm sold XRP to investors as securities.
For close to 3 years, the firm had to rigorously fight these claims in court, and though it came out victorious according to a July 13 ruling, the company reported spending over $
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