Why It Matters
Mysten Labs Inc., the blockchain company behind the Sui network, terminated its lobbying engagement with PolicyPartner LLC on August 31, according to a filing made public this week.
The termination marks a brief stint in Washington for Mysten Labs, which paid the firm $60,000 across two quarters of work before ending the relationship.
The company paid the firm $30,000 in the second quarter of 2026 and another $30,000 in the third quarter, before the August 31 termination took effect. By comparison, Exodus Movement Inc., another cryptocurrency client at the firm, paid PolicyPartner $40,000 in the first quarter and $60,000 in the second quarter of 2026 alone, totaling at least $140,000 across disclosed periods.
The termination represents a loss of $60,000 in total revenue from Mysten Labs, though the firm retained other crypto clients working on overlapping policy issues. PolicyPartner LLC lobbied on behalf of Exodus Movement Inc. in the first and second quarters of 2026 on self-custodial wallets, noncustodial entities, decentralized finance developers, yield and rewards paid on stablecoins, and the Parity Act (draft).
By The Numbers
In September 2025, the company met directly with the SEC Crypto Task Force and Commissioner Hester Peirce, represented by law firm Sidley Austin LLP. That meeting addressed regulatory issues surrounding Sui and pending spot SUI ETF applications from 21Shares and Canary.
The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) was signed into law on July 18, 2025.
During its engagement with PolicyPartner, Mysten Labs lobbied on several fronts. In the second quarter of 2026, the firm worked on general issues around digital assets and regulatory classifications, as well as financial institutions, investments, and securities matters. PolicyPartner also lobbied on behalf of Mysten Labs regarding H.R. 9178, the Less Tax Paperwork for Digital Asset Owners Act, and on banking and taxation issues.
The firm also worked on draft legislation including the Parity Act and general stablecoin yield and rewards issues.
Tim Hite, a lobbyist at PolicyPartner LLC, was assigned to the Mysten Labs account. Hite has approximately four years and four months of total congressional service, including an internship on the Senate Budget Committee from September 4, 2018 to September 30, 2018. He holds a Juris Doctor degree from George Mason University Antonin Scalia Law School.
The $30,000 fee reported for the third quarter of 2026 covered lobbying work through the August 31 termination date.
Exodus Movement Inc. paid PolicyPartner LLC $40,000 for first quarter lobbying activities and $60,000 for second quarter lobbying activities.
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