SEC files lawsuits against cryptocurrency companies, US crypto lobby grows rapidly

This is interpreted as being related to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency-related companies, as the size of the lobby in the U.S. cryptocurrency industry has been growing rapidly recently.
Social Capital Market, a virtual asset research platform, said in its own report that the size of the US virtual currency industry lobby was $80,000 in 2017.
"This represents a 3,475% increase from the previous year's target of $11.44 million to $2.9 million in 2023."
The report states, "Lobby spending has grown 1,386 percent annually over the past seven years.
"This is related to the SEC," he said, adding that "BlackRock is the most well-known company that has engaged in cryptocurrency lobbying."