Crypto Industry Helps Write, and Pass, Its Own Agenda in State Capitols

In July, the state ordered a dozen ATM providers that sell cryptocurrencies in exchange for cash – including Cash Cloud, Coin Now and Digicash – to register documents obtained by The Times as money transmitters, despite appeals from companies.

Last year, Mr. Following a lobbying appeal by Mr. Alupis, he introduced a bill to exempt bipartisan crypto transactions. Arms and a trade group that leads it, the Florida Blockchain Business Association. (Its members include Binance, a major crypto exchange.) The bill failed to get Senate approval, and was reintroduced for this year’s session.

Russell Weigel, the Florida commissioner of the Office of Financial Regulation, said he supported the law that Mr. Arms was the champion.

Mr. Weisel said. “Do I need a license for it?” That sounds absurd. “

The lobbyist for blockchain.com, a cryptocurrency exchange that moved from New York to Miami last year, and Bit5ive, which produces crypto mining equipment in the Florida area, joined the effort by contacting dozens of state legislators.

“They’re very pro-crypto,” said Robert Collazo, Bit5ive’s chief executive, about the Florida legislators.

In the future, the company plans to raise money for crypto-friendly legislators in Florida, said Michael Kesti, a lobbyist at Bit5ive. Jason Holloway, the legislative affairs director of the Florida Blockchain Association, is already running for the State House with donations – some In cryptocurrency – Weapons and others from Shri.

“I don’t want it to feel like we’re paying for performance,” Mr. Said Kesti. “But we want to support them.”

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