U.S. House halts progress on crypto bills backed by Trump
U.S. House halts progress on key crypto bills
Attempts to push forward key cryptocurrency legislation in the U.S. House of Representatives stalled this week after a critical procedural vote failed, halting progress on three major digital asset initiatives backed by President Donald Trump.
The 196–223 defeat dealt a blow to both industry advocates and Republican leadership, especially during a week informally dubbed “Crypto Week.”
According to The Hill, twelve Republicans joined Democrats in voting against the rule that would have allowed debate on the legislative package. The package included the GENIUS Act, which focuses on stablecoin regulation; the 2025 Digital Asset Market Clarity Act, which outlines a broader crypto market framework; and the Anti-CBDC Surveillance State Act, aimed at banning the Federal Reserve from issuing a Central Bank Digital Currency (CBDC).
Representative Marjorie Taylor Greene (R-Ga.) was among those who voted “no,” stating the GENIUS Act failed to prohibit CBDCs. “The GENIUS Act does not follow President Trump’s executive order, as it does not ban CBDCs,” she wrote on social media platform X, referring to Trump’s previous directive advocating such restrictions.
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Republican rift and Johnson’s strategy
Despite Trump’s push for quick passage of the stablecoin bill in its current form to strengthen U.S. leadership in digital assets, internal divisions among Republicans slowed progress. Members of the conservative Freedom Caucus insisted on combining all three proposals into a single bill, undermining Speaker Mike Johnson’s strategy to advance them separately.
Johnson acknowledged the internal conflict, noting that some members insist the legislation must be passed as a unified package, even as House leadership aimed to coordinate with the White House and Senate. House Majority Leader Steve Scalise (R-La.) strategically voted “no” to preserve the ability to call for another vote after further negotiations within the GOP conference.
The House now plans to make another attempt to move the three crypto bills forward on Wednesday, after a scheduled re-vote on Tuesday was unexpectedly canceled, further deepening the legislative stalemate.
Senate position
The delay coincides with the Senate’s continued work on a separate cryptocurrency bill. Senator Cynthia Lummis (R-Wyo.) said a draft of the legislation could be released as early as this week, with key Senate committees actively involved in the effort.
Initially, House Republicans aimed to pass the GENIUS Act before the August recess and the CLARITY Act by the end of September. However, the failed vote has cast doubt on that timeline, especially as the Senate prepares to reclaim $9.4 billion in federal funding, which requires House approval.
As negotiations continue, the future of U.S. digital asset regulation remains uncertain—torn between intra-party conflicts and the race against the legislative calendar.
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