Stablecoin issuers, including Tether and Circle, have spent over a million dollars lobbying lawmakers on Capitol Hill since the beginning of 2022. This comes as pressure mounts to establish a regulatory framework for dollar-pegged digital assets. Tether has spent around $600,000 on lobbying efforts so far this year, while Circle has spent at least $560,000. The lobbying efforts have focused on educating policymakers on stablecoin and cryptocurrency issues and monitoring cryptocurrency proposals.