Crypto lobbying hits a political wall over ethics concerns

Crypto’s bid for a sweeping federal framework collapsed in the Senate as ethics concerns tied to Trump-era crypto ventures outweighed industry influence, leaving the Clarity Act short of the 60 votes and signaling that money alone can’t overcome partisan opposition; Democrats demanded stronger ethics provisions and bank-lobbying concerns helped sink support, though regulators are still moving to provide ‘regulatory clarity’ and industry advocates vow to press on.