Trump's Crypto Empire Derails Industry's Regulatory Hopes

The crypto industry had pinned its hopes on President Trump to finally provide regulatory clarity. However, those dreams were dashed when Republican senators failed to pass a key bill, known as the Clarity Act, due to concerns over public officials trading cryptocurrencies.

The final hurdle was President Trump's own crypto empire, which has raked in more than $1 billion from various businesses launched before his inauguration last year.

Democrats, including Sen. Elizabeth Warren, argued that the bill didn't go far enough to prevent public officials from trading cryptocurrencies, saying it effectively allowed them to 'have at it.'