US EditionTrump-backed crypto regulation bills fail to clear key hurdle in Congress
UNITED STATES, JUL 16 – House Freedom Caucus objections to Senate-led legislation caused procedural delays, blocking debate on bills including the GENIUS Act and Anti-CBDC Surveillance State Act, with 13 Republicans opposing.
- Last Tuesday, the U.S. House’s procedural vote failed, halting debate on three crypto bills.
- Amid Crypto Week, House Freedom Caucus objected to Senate-drafted bills, raising specific CBDC concerns, including Rep. Chip Roy's warning and Andy Harris's call to kill CBDC.
- Following the procedural setback, most major cryptocurrencies declined immediately after the vote, signaling market jitters, with Circle falling 5.3% to a session low.
- Despite the delay, the bills retain strong bipartisan support, and Speaker Mike Johnson said the House will retry the vote Wednesday.
- On Wednesday, the House plans to advance crypto bills by July 17, aiming to establish a stable framework for digital currencies, boosting U.S. treasury demand and industry activity.
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Crypto Bills Stall in House After Failed Procedural Vote
Landmark crypto legislation faced a major setback in the U.S. House of Representatives during “Crypto Week” after a key procedural vote failed – the motion to advance three key crypto bills was defeated with 196 votes in favor and 223 against. The main bills in question were the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), the Digital Asset Market Clarity (Clarity) Act and the Anti-CBDC Surveillance State Act. …
What ‘Crypto Week’ Means for ETFs
It’s “Crypto Week,” and that means clients are probably wondering if they should transfer their retirement savings to meme coins. Congress is preparing to vote on three landmark bills this week that could transform America into the world capital of crypto. The Genius Act, which allows private companies to launch stable coins, already passed the Senate. But, the other two proposals — the Digital Asset Market Clarity Act, which sets up a framework…
Thirteen elected Conservatives of the House of Representatives overturned a procedural vote on Tuesday on three pieces of reform of the sector, inflicting a setback on the cryptocurrency industry and the U.S. president.
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