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Crypto companies are descending on Capitol Hill on Wednesday, but their push to advance industry-friendly laws is likely to be overshadowed by a fight over the federal budget and a Senate crackdown on the use of crypto for money laundering. Dozens of executives from digital asset companies are meeting with lawmakers and their staff on Wednesday as part of a grassroots advocacy campaign organized by Coinbase, the biggest U.S. crypto exchange, and Stand With Crypto, a non-profit it founded. The House Financial Services Committee in July passed two major bills that would help provide clarity over which existing financial rules apply to the industry, and crypto lobbyists hope they can convince lawmakers to advance those through Congress.

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