[Lobbying Expenditures Decrease Quarter-on-Quarter, Coinbase and Other Institutions Still Spend Over $4 Million in Q3] Odaily Planet Daily reports that following the setback of the CLARITY Act in the U.S. Senate in September, federal-level lobbying expenditures by Coinbase and several major cryptocurrency industry organizations decreased in the third quarter compared to the second quarter. However, total spending for the quarter still exceeded $4 million, marking the sixth consecutive quarter at this level. The CLARITY Act aimed to establish a regulatory framework for the digital asset market. Factors such as internal industry disagreements over stablecoin yield businesses, pressure from traditional banking groups, and controversies surrounding ethical clauses related to the crypto asset interests of political figures are seen as reasons for the bill's failure to pass. In the first half of 2026, the cryptocurrency industry has already spent over $8 million to push for market structure legislation, with Coinbase accounting for approximately $2.2 million and Kraken nearly $1 million. Some lobbying firms, however, terminated their partnerships with cryptocurrency industry clients in the third quarter.