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How Trump’s crypto winnings undermined the industry’s push for looser regulation
Trump disclosures of more than $1.4 billion in crypto income helped drive Democratic defections and sink the bill on a 60-vote test, Reuters reported.
- On Sept 15, 2026, the Senate rejected the Clarity Act, falling short of the required 60-vote majority in a procedural vote. The crypto industry's flagship regulatory measure collapsed after months of political turbulence.
- The crypto industry spent over $119 million backing candidates in both parties, seeking to categorize most crypto as commodities under Commodity Futures Trading Commission oversight rather than face stricter Securities and Exchange Commission regulation.
- Revelations of Trump's crypto wealth—more than $1.4 billion in 2025 income and about $2.3 billion total since the 2024 election—emerged in June disclosures and a Reuters investigation, undermining the bill's political momentum throughout spring and summer 2026.
- Coinbase CEO Brian Armstrong's January 2026 opposition forced delays and revision rounds; attempts to add ethics provisions failed to win over Senate Democrats, while banking groups rejected the final compromise language on stablecoin restrictions.
- Three Republicans defected after banking opposition, causing the bill to die on a procedural vote and leaving the long-term durability of crypto's regulatory gains uncertain ahead of the 2026 midterm elections.
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14 Articles
14 Articles
Bozeman Daily Chronicle+13 Reposted by 13 other sources
How Trump’s crypto winnings undermined the industry’s push for looser regulation
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
·Cherokee County, United States
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Total News Sources14
Leaning Left2Leaning Right4Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
15%
C 54%
R 31%
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