Trump's Crypto Windfalls Sink Industry's Regulation Hopes
The crypto industry suffered a major setback when President Trump's revelations of his family's lucrative crypto businesses undermined its push for looser regulation.
Legislation known as the Clarity Act, which would have placed most crypto trading under the Commodity Futures Trading Commission and exempted tokens from being treated as securities, was on the verge of passing in 2026. However, Democratic support in the Senate faltered due to concerns that the bill would further enrich Trump's family.
The industry had enjoyed a series of wins since Trump started his second term, including the passage of the GENIUS Act in July 2025, which established a federal regulatory framework for stablecoins. But the steady drip of news about the Trump family's crypto ventures ultimately changed the political calculus.