Crypto Industry's Looser Regulation Hopes Dashed by Trump's Crypto Fortunes

The crypto industry has suffered a setback in its efforts to achieve looser regulation due to revelations about President Donald Trump's lucrative crypto ventures. The president and his family have made over $2.3 billion from various crypto businesses since the 2024 election, according to a Reuters investigation.

This news has undermined bipartisan support for the Clarity Act, a legislation that aimed to provide light-touch regulation over crypto assets. The bill, which had been gaining momentum with its passage in the House of Representatives, ultimately fell short in the Senate due to Democratic opposition.

The industry is now scrambling to advance its agenda through regulatory changes rather than legislation. However, the long-term durability of any gains remains uncertain given the prospect of a Democratic-controlled Congress and White House after the 2026 midterms.