The U.S. Senate voted down the most important long-term regulatory legislative proposal for the crypto industry, marking the collapse of what was described as a 'once-in-a-lifetime' policy window for the sector. Previously, the banking sector intensified its self-rescue efforts due to concerns over the massive lobbying funds spent by crypto firms. However, in this vote, three Republican lawmakers opposed the bill due to banks' 'inherent stance,' while all Democratic lawmakers voted against it, citing that the legislation did not sufficiently address concerns about Trump. Analysts suggest that under Trump's administration, the likelihood of Congress advancing similar permanent crypto regulatory framework reforms is low. Some have remarked that the enormous funds invested by the crypto industry in this lobbying effort 'would have been better spent on curing cancer.' [PANews]