The odds of the crypto industry finally getting the CLARITY Act through the Senate have been slipping for practically the entire year. But the clearest sign yet of why it may fail came Tuesday, when Sen. Thom Tillis said the bill is likely doomed unless President Donald Trump’s team shows some willingness to negotiate on ethics restrictions tied to the president and his family’s crypto ventures.

“If there’s no interest in the White House in trying to bridge the gap on the ethics language, it is going to fail,” Tillis told Semafor.

The CLARITY Act is supposed to give the digital asset sector something it has wanted for years: a clearer federal rulebook for when a token should be treated like a security under…