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Digital Currency Group VP Julie Stitzel registers its first public policy in the lobby

As per the filing disclosure on August 15, Digital Currency Group VP Julie Stitzel has registered its first public policy in the lobby.

DCG is an investment firm centered around the crypto industry, with over 150 crypto firms in its portfolio. Its portfolio incorporates significant stakes in firms like brokerage firm Genesis Trading, Grayscale Asset Management, and CoinDesk, which act as independent subsidiaries of DCG.

The new filing of DCG portrays its central goal as “Backing bitcoin and blockchain organizations by levering information, network and access to capital.”

Up to the latest filings, DCG has revealed $120,000 in spending on lobbying per quarter. Those have been done through agreements with outside firms like Capitol Counsel and Klein Johnson Group. 

Those agreements started in the previous summer and fall, around the same time due to increased interest in Washington, DC from the crypto sector because of a crypto tax requirement in the framework bill.

DGC’s portfolio firms like Chainalysis, Silvergate, Ripple, FTX, and Coinbase are already power-hitters in lobbying.

The move suggests DCG will get more engaged with lobbying efforts, especially in the approach to the 2022 mid-term elections. Stitzel was previously head of bitcoin policy at Block’s Cash App prior to joining DCG in May.

Moreover, spending on lobbying has increased by the crypto firms despite the bearish sentiment in the crypto industry. Moreover, firms like FTX have recruited new staff to work straightforwardly on Capitol Hill.in.

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