In the second quarter of 2022, leaders of cryptocurrency companies and venture capital funds actively donated to the US Senator’s election campaign from Wyoming Cynthia Lummis. This is evidenced by data from the Federal Election Commission.

According to the report, the senator raised over $116,000 during the term. At the end of June 2022, there was more than $243,000 in the campaign treasury. The funds will be used to fund the 2026 campaign.

Lummis’s donors include representatives from Multicoin Capital, Andreessen Horowitz founder Ben Horowitz and venture fund partner Chris Dixon, Aptos co-founder Mohammad Shaikh, Kraken general counsel Marco Santori, and a number of other industry stakeholders.

Lummis is a co-sponsor of a bill regulating the cryptocurrency industry that was introduced in June 2022. The document introduces legal terminology for digital assets and virtual currencies, and also defines the powers of oversight agencies.

The current version of the legislation does not contain provisions regarding NFTs. Lammis attributed this to the difficulty of classifying immutable markers.

Earlier, the senator called it a “good idea”. fed buy bitcoin. According to him, the Fed could use some of its foreign exchange reserves to purchase digital gold.

Lummis first invested in bitcoin in 2013. He increased his investment in the asset in August 2021.

Recall that in 2021, cryptocurrency companies spent about $5 million lobbying the US Senate, according to The Economist.

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