New York — 

The crypto industry has spent years and hundreds of billions of dollars lobbying for regulation that would more closely weave digital assets into traditional finance. When President Donald Trump made a heel-turn on crypto in 2024, supporters hoped that he’d finally put an end to their regulatory limbo.

That dream hit the skids on Tuesday, when Republican senators failed to get the industry’s signature legislation through a key procedural vote. The final snag: Trump’s own crypto empire.

The president has raked in more than $1 billion from various crypto businesses that he and his sons…