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Just months after taking a euphoric victory lap around Washington to celebrate the new administration, it would appear the crypto industry has a Trump problem. 

2025 was supposed to be a historic year for crypto legislation. With a favorable White House and established bipartisan support for policy, lawmakers and industry members expected to have new laws passed before midterm elections. 

But, as Ben wrote about yesterday, nine Democrats pulled support for the current version of the stablecoin-focused GENIUS Act. They cited wanting stronger provisions around anti-money laundering and…

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