The cryptocurrency industry suffered a setback in the Senate after the Clarity Act, its longtime top lobbying priority, collapsed on Tuesday. Democrats argued that the sweeping bill did not do enough to prevent President Donald Trump from profiting from his family’s digital asset ventures. The defeat highlights the limits of the sector’s political influence during the partisan politics of the Trump 2.0 era, despite crypto companies spending hundreds of millions of dollars on political activity and using aggressive lobbying tactics. Sen. Chris Van Hollen, a Maryland Democrat who opposes the bill effort, said the Trump administration had not addressed the bill’s central ethics and conflict-of-interest concerns. He also said the outcome showed that lawmakers would not be pressured into approving legislation by tens of millions of dollars in super PAC spending.