{"id":15921,"date":"2025-07-16T09:05:48","date_gmt":"2025-07-16T09:05:48","guid":{"rendered":"https:\/\/topat10.com\/?p=15921"},"modified":"2025-07-16T09:05:48","modified_gmt":"2025-07-16T09:05:48","slug":"house-gops-crypto-week-wobbles-as-13-republicans-join-democrats-to-block-3-bills","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=15921","title":{"rendered":"House GOP\u2019s \u2018crypto week\u2019 wobbles as 13 Republicans join Democrats to block 3 bills"},"content":{"rendered":"\n

A trio of cryptocurrency bills<\/a> that had been expected to pass the House this week stalled Tuesday after a bloc of Republicans unexpectedly joined with Democrats to prevent the legislation from coming up for debate and votes.<\/p>\n

\n

The procedural snafu brought the House\u2019s so-called \u201ccrypto week\u201d to a standstill \u2014 and dealt a blow to\u00a0President Donald Trump<\/a>, who had strongly urged Republicans to pass the bills as part of his push to make the U.S. the \u201ccrypto capital<\/a>\u00a0of the world.\u201d<\/p>\n

Trump intervened during a late evening meeting with Republicans at the White House, and appeared to put the bills back on track. He posted on social media that he expected votes as soon as Wednesday.<\/p>\n

A group of 13 Republicans had joined all\u00a0Democrats<\/a>\u00a0in opposition to a procedural vote needed to bring the crypto bills to the floor. Speaker Mike Johnson told reporters it was just part of the \u201clegislative process\u201d and that negotiations were underway between the House, Senate and White House. He suggested they could try again Tuesday evening.<\/p>\n

\u201cWe expected there might be some \u2018no\u2019 votes, but we thought it was important to put it on the floor to advance it because time\u2019s of the essence on this,\u201d Johnson said. \u201cSo stay tuned. We\u2019ll have lots of discussions over the next few hours.\u201d<\/p>\n

But just hours later, House leadership canceled votes for the remainder of the day, potentially throwing the crypto bills into limbo.<\/p>\n

Then, late in the evening, Trump posted that he was having a White House meeting with lawmakers and had won their support to vote for the procedural step.<\/p>\n

\u201cI am in the Oval Office with 11 of the 12 Congressmen\/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,\u201d Trump said on social media, referring to the step.<\/p>\n

The president said that Johnson attended via telephone \u201cand looks forward to taking the Vote as early as possible.\u201d<\/p>\n

The stalled legislation includes a\u00a0Senate-passed bill<\/a>\u00a0to regulate a form of cryptocurrency known as stablecoins, along with far more sweeping measures aiming to address cryptocurrency market structure. Another bill would prohibit the Federal Reserve from issuing a central bank digital currency.<\/p>\n

The disagreement blocking the bills from advancing centers on how the three bills would be passed. Johnson explained that \u201csome of these guys insist that it needs to be all in one package.\u201d Packaging<\/a> the bills would require them to be sent back to the Senate, since the chamber has only taken up one of the three bills so far.<\/p>\n

Rep. Glenn Thompson of Pennsylvania, a Republican co-sponsor of one of the cryptocurrency bills, told reporters that some of the Republicans wanted to package the bills together due to them \u201cnot having a lot of faith in the Senate moving our legislation.\u201d<\/p>\n

Trump and Republican leaders have called on the House to pass the bills individually, so that the stablecoin legislation can get to Trump\u2019s desk for his signature before an August recess. The stablecoin legislation took the Senate nearly a month and half to pass, and the more sweeping market structure legislation is expected to take even longer.<\/p>\n

In a post Tuesday morning on social media, Trump had called on Republicans to advance the crypto bills that afternoon, saying that \u201call Republicans should vote \u2018yes.\u2019\u201d Asked Tuesday evening about the stalled legislation, Trump told reporters that Republicans who voted against it wanted it to be \u201cstronger.\u201d<\/p>\n

Trump has pushed hard for the passage of the stablecoin legislation, with him and his family\u00a0standing to profit<\/a>\u00a0from a boost to stablecoins. They hold a significant stake in World Liberty Financial, a crypto project that recently launched its own stablecoin, USD1.<\/p>\n

The stablecoin legislation passed by the Senate includes a provision that bars members of Congress and their families from profiting off stablecoins. But notably, that prohibition does not apply to the president or his family, even as Trump builds what some are calling a crypto empire from the White House.<\/p>\n

The cryptocurrency industry hopes the bills as a whole will aid in their push for legitimacy and increasing consumer trust. And road bumps like those seen Tuesday may not have been expected after\u00a0spending heavily<\/a>\u00a0in the 2024 election to elect a large number of\u00a0crypto-friendly<\/a>\u00a0lawmakers.<\/p>\n

Faryar Shirzad, chief policy officer of Coinbase<\/a>, the nation\u2019s largest cryptocurrency exchange, said in a statement after the failed procedural vote that \u201cevery few steps forward there\u2019s inevitably a step back.\u201d<\/p>\n

\u201cIt\u2019s in these moments we\u2019ll see who is trying to get pro-crypto legislation done and who is not,\u201d Shirzad said on social media.<\/p>\n

Passage of the bills could have implications on the 2026 midterm races. Fairshake, a crypto super political action committee, said that it and its affiliated organizations already have more than $140 million in the bank ready to spend on midterm races.<\/p>\n

\u201cThe voters last year were clear \u2014 Congress needs to stop playing politics with crypto and finally pass responsible regulation,\u201d said Josh Vlasto, spokesperson for Fairshake. \u201cWe are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country.\u201d\n<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

A trio of cryptocurrency bills that had been expected to pass the House this week stalled Tuesday after a bloc of Republicans unexpectedly joined with Democrats to prevent the legislation from coming up for debate and votes. The procedural snafu brought the House\u2019s so-called \u201ccrypto week\u201d to a standstill \u2014 and dealt a blow to\u00a0President […]<\/p>\n","protected":false},"author":832,"featured_media":15922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-15921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nHouse GOP\u2019s \u2018crypto week\u2019 wobbles as 13 Republicans join Democrats to block 3 bills | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"The procedural snafu brought the House\u2019s so-called \u201ccrypto week\u201d to a standstill \u2014 and dealt a blow to\u00a0President Donald Trump.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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The procedural snafu brought the House\u2019s so-called \u201ccrypto week\u201d to a standstill \u2014 and dealt a blow to\u00a0President…","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/15921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/users\/832"}],"replies":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15921"}],"version-history":[{"count":0,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/15921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/media\/15922"}],"wp:attachment":[{"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}