The Crypto Industry Has Spent Nearly $200 Million to Pass New Pro-Crypto Legislation. Here's What Investors Need to Know.

The crypto industry has spent $189 million lobbying for the Clarity Act, which would grant the CFTC exclusive jurisdiction over digital asset spot markets and codify Bitcoin, Ethereum, and XRP as commodities. However, prediction markets give the bill only a 31% chance of passing by year-end due to Democratic demands for ethics language and unresolved stablecoin yield questions. XRP has the most to gain from passage, while Bitcoin has the least.