Coinbase Cuts Q3 Lobbying After CLARITY Act Fails in Senate; Blockchain Association Pushes Tax Reform
Coinbase and industry groups reduced Q3 lobbying spending after the CLARITY Act failed 49-50 in the Senate, while the Blockchain Association launched a new push for crypto tax legislation.
Why it matters
The lobbying pullback signals industry frustration with legislative gridlock, prompting a shift toward regulatory engagement with the SEC and CFTC. The Blockchain Association's tax push represents a new legislative front as comprehensive market structure bills stall.
Key facts
Crypto lobbying by Coinbase and major industry groups fell in Q3 2026 but stayed above $4 million for a sixth straight quarter
4,000,000 USDReported by CoinGape
The Senate rejected the CLARITY Act 49-50 on September 15 2026, failing to reach the 60-vote threshold
Reported by CoinGape
All 49 Democrats and four Republicans voted against cloture on the CLARITY Act
Reported by CoinGape
Coinbase spent roughly $2.2 million on lobbying in the first half of 2026
2,200,000 USDReported by CoinGape
Kraken spent close to $1 million on lobbying in the first half of 2026
1,000,000 USDReported by CoinGape
The Blockchain Association sent a letter to congressional leadership urging bipartisan crypto tax legislation
Reported by Bitcoin Magazine
The Blockchain Association represents over 100 members and says 67 million Americans hold digital assets
67,000,000 AmericansReported by Bitcoin Magazine
The House Ways and Means Committee approved the Digital Asset Tax Certainty Act (H.R. 10357) one day after the CLARITY Act failed
Reported by Bitcoin Magazine
What happened
Crypto lobbying by Coinbase and major industry groups declined in the third quarter of 2026 but remained above $4 million for a sixth consecutive quarter, according to Bloomberg Government data cited by CoinGape. The decrease followed the Senate's September 15 rejection of the Digital Asset Market Clarity Act, which fell short of the 60 votes needed to advance with a 49-50 vote. All 49 Democrats opposed cloture, joined by four Republicans: Jerry Moran, Susan Collins, Josh Hawley, and Thom Tillis. Coinbase spent approximately $2.2 million on lobbying in the first half of 2026, while Kraken spent nearly $1 million. Separately, the Blockchain Association, representing over 100 members, sent a letter to congressional leadership urging bipartisan digital asset tax legislation and launched TaxClarityforAmerica.com. The group argues current tax rules create compliance burdens for the 67 million Americans who hold digital assets. The House Ways and Means Committee approved the Digital Asset Tax Certainty Act (H.R. 10357) one day after the CLARITY Act's Senate defeat.
How the story developed
- First report
First report by CoinGape
Coinbase Cuts Q3 Lobbying After CLARITY Act Senate Defeat, Here’s All
- Official statement
Senate rejects CLARITY Act
The Digital Asset Market Clarity Act fails 49-50, short of the 60 votes needed
- Update
CoinGape reports Q3 lobbying decline
Bloomberg Government data shows crypto lobbying fell in Q3 but held above $4M
- Independent corroboration
Independently corroborated by Bitcoin Magazine
Blockchain Association Presses Congress on Crypto Taxes as Clarity Act Stalls
- Official statement
House Ways and Means Committee advances crypto tax bill
Committee approves Digital Asset Tax Certainty Act (H.R. 10357) one day after Senate CLARITY Act defeat
- Official statement
Blockchain Association launches tax reform push
Group sends letter to congressional leadership and launches TaxClarityforAmerica.com
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 22 Oct 2026, 10:15 UTC: CoinGape — 1 independent source, 1 reports
- 22 Oct 2026, 19:51 UTC: Bitcoin Magazine — 2 independent sources, 2 reports
- 23 Oct 2026, 09:30 UTC: Unchained — 3 independent sources, 4 reports
- 23 Oct 2026, 09:32 UTC: Bitcoin Insider — 4 independent sources, 5 reports
- 23 Oct 2026, 13:00 UTC: Crypto.News — 5 independent sources, 6 reports
- 23 Oct 2026, 17:30 UTC: NewsBTC — 6 independent sources, 7 reports
Affected entities
Also mentioned: Commodity Futures Trading Commission, Cynthia Lummis, Donald Trump, Internal Revenue Service, Brian Armstrong, Kraken, Base
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinGape Crypto media | Coinbase Cuts Q3 Lobbying After CLARITY Act Senate Defeat, Here’s All | Original | |
| Unchained Crypto media | Blockchain Association Urges Congress to Pass Crypto Tax Rules, Lays Out 10 Principles | Independent | |
| Bitcoin Magazine Crypto media | Blockchain Association Presses Congress on Crypto Taxes as Clarity Act Stalls | Independent | |
| Crypto.News Crypto media | The CLARITY Act stalled. Can Congress pass crypto tax rules first? | Independent | |
| CoinGape Crypto media | Blockchain Association Calls on US Congress to Overhaul Crypto Tax Rules | Independent | |
| NewsBTC Crypto media | Crypto Industry Group Pushes Congress For Small-Payment Tax Relief And Clearer Rules | Independent | |
| Bitcoin Insider Aggregator | 67 Million Crypto Holders Could Benefit as Industry Group Pushes Tax Reform in Congress | Syndicated |
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