FOR IMMEDIATE RELEASE
Contact: Timi Iwayemi, iwayemi@therevolvingdoorproject.org
Ahead of the House Committee on Ways & Means hearing on digital asset taxation scheduled for Tuesday June 9th 2026, the Revolving Door Project released an analysis of the cryptocurrency industry’s contributions to committee members.
The industry’s multi million dollar investment in the campaigns of committee members over the past two election cycles has yielded a range of pro-crypto actions, including support for favorable legislation, specifically the GENIUS Act and Clarity Act. In addition to direct campaign contributions, the industry’s vast independent expenditures in the 2024 election and its substantial 2026 warchest have had an “intimidating effect” on lawmakers considering standing up to the crypto agenda.
In all likelihood, the crypto industry will continue to benefit from friendly treatment by the committee, unless members step up and buck the trend of kowtowing to crypto’s wishes.
Describing the report’s findings and the urgent need for aggressive congressional oversight, Revolving Door Project Assistant Director Timi Iwayemi said: “Crypto’s assault on our democracy continues apace as the industry best-known for empowering eye-popping levels of fraud pours millions into congressional campaigns. The upshot is a distortion of congressional priorities, with lawmakers seemingly more focused on passing sweetheart legislation rather than addressing issues voters actually care about, such as closing tax loopholes exploited by wealthy speculators.”
“If you look past the crypto industry’s dishonest statements on this issue, poll after poll shows voters simply do not care about cryptocurrency. The reason why Congress is so dead set on this issue despite lacking any popular base of support is simple: the size of crypto’s political wallet. Any sweetheart pro-crypto legislation would only serve to underscore the cynicism Americans rightly have about their corrupted democracy.” said Revolving Door Project Executive Director, Jeff Hauser.
A full breakdown of the industry’s contributions to committee members can be found here. A summary is also available here.
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