The National Football League (NFL) spent $600,000 lobbying the US Securities and Exchange Commission (SEC) on "issues related to blockchain technology," CNBC has learned, citing regulatory filings.
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The NFL was reportedly active from July through December last year, lobbying the White House Office, the Department of Justice and the Department of Commerce on "federal regulation of sports betting." According to sources close to the matter, the football league is trying to find out if cryptocurrencies can become an integral part of its business. Currently, the NFL makes approximately $10 billion in annual revenue.
iHodl earlier reported that the NFL banned cryptocurrency sponsorships for teams. According to reports, teams were barred from dealing not only with cryptocurrencies, but also with non-fungible tokens (NFTs) as the league was working its own crypto-related strategy.
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