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The US House is poised to attempt to advance three cryptocurrency bills again on Wednesday after aborting a re-vote on Tuesday due to several Republican legislators withdrawing their backing, seeking to introduce a ban on central bank digital currencies (CBDCs).<\/p>\n
Republican House Speaker Mike Johnson expressed optimism about initiating a procedural vote for the bills on Wednesday, stating it\u2019s \u201ca priority of the White House, the Senate, and the House to enact all of these crypto bills,\u201d as reported by Politico reported<\/a>.<\/p>\n Some Republicans advocated for modifications to the stablecoin-regulating GENIUS Act<\/a> or for it to be bundled with two other cryptocurrency bills scheduled for a vote this week \u2014 the CBDC-prohibiting Anti-CBDC Surveillance Act<\/a> and an expansive crypto market structure legislation known as the CLARITY Act.<\/p>\n However, Johnson reportedly mentioned that \u201cwe need to address them in order,\u201d indicating that the Senate might not approve the bills if they were all combined.<\/p>\n The push to pass the bills is part of the Republican-led initiative termed \u201cCrypto Week\u201d aimed at enacting crypto regulations before Congress takes a month-long recess in August. Meanwhile, Democrats have labeled<\/a> this as an \u201canti-crypto corruption week\u201d to contest the bills.<\/p>\n House Majority Leader Steve Scalise joined 12 other Republican legislators<\/a> in voting<\/a> against considering the bills<\/a> on Tuesday. The dissenters included Andrew Clyde, Tim Burchett, Andy Biggs, Eli Crane, Michael Cloud, Marjorie Taylor Greene, Andy Harris, Anna Paulina Luna, Scott Perry, Victoria Spartz, Chip Roy, and Keith Self.<\/p>\n Another vote to advance the bills was anticipated, but the House adjourned<\/a> before any further steps were undertaken.<\/p>\n Representatives Biggs, Burchett<\/a>, Green, Luna<\/a> and Spartz<\/a> took to X post-vote and indicated that they were not opposed to the crypto bills but did not wish to approve the GENIUS Act unless it had a specific prohibition on a CBDC<\/a>.<\/p>\n \u201cI just voted NO on the Rule for the GENIUS Act because it does not contain a prohibition on central bank digital currency and because Speaker Johnson didn\u2019t allow us to propose amendments to the GENIUS Act,\u201d Green stated<\/a>.<\/p>\n I just voted NO on the Rule for the GENIUS Act because it does not include a ban on Central Bank Digital Currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act.<\/p>\n Americans do not want a government-controlled Central Bank Digital Currency.\u2026 pic.twitter.com\/NnkeIOH0dE<\/a><\/p>\n \u2014 Rep. Marjorie Taylor Greene\ud83c\uddfa\ud83c\uddf8 (@RepMTG) July 15, 2025<\/a><\/p><\/blockquote>\n Biggs expressed<\/a> his concerns regarding the GENIUS Act having a framework for a layered CBDC and not ensuring self-custody<\/a>. He is advocating for amendments.\u00a0<\/p>\n \u201cHouse Leadership must permit an open amendment process so Members can freely discuss and enhance the bill,\u201d Biggs further commented.<\/p>\n US President Donald Trump included a restriction on<\/a> the Federal Reserve’s ability to create a CBDC in a January executive order.<\/p>\n Speaker Johnson is reportedly in discussions with the Republican dissenters to push forward the legislation, as reported by ABC News reported<\/a> on Tuesday.<\/p>\n However, he remarked that the Republican \u201cno\u201d voters desiring to combine the three crypto bills into one is a significant issue.<\/p>\n <\/p>\n \u201cThey wish to merge that and consolidate them. We\u2019re striving to collaborate with the White House and with our Senate partners concerning this,\u201d Johnson stated.<\/p>\n \u201cI believe everyone is committed to enacting all three, but some insist that it needs to be presented as one comprehensive package.\u201d<\/p>\n The House is scheduled to reconvene on Wednesday for a morning session and other \u201clegislative activities.\u201d<\/p>\n Caitlin Long, founder and CEO of Custodia Bank, noted<\/a> in a post on X on Tuesday that the legislation\u2019s failure to pass on the first attempt should not be seen as alarming since the GENIUS Act also didn\u2019t pass the Senate initially.\u00a0<\/p>\n Related: <\/strong><\/em>Crypto-backed group gathers $141M funding to influence US elections<\/strong><\/em><\/a><\/p>\n \u201cBEFORE Y\u2019ALL PANIC, remember that the first procedural vote in the Senate on the GENIUS Act also failed…the subsequent one succeeded 11 days later,\u201d she mentioned.<\/p>\n The GENIUS Act passed in the Senate<\/a> in June with bipartisan backing, but it initially did not pass a cloture vote<\/a> in the Senate in May due to Democratic opposition to Trump\u2019s rising ties with the cryptocurrency industry.\u00a0<\/p>\n In the meantime, Eleanor Terrett, host of the Crypto in America podcast, noted<\/a> that the GENIUS Act already forbids the Fed from establishing a retail CBDC.<\/p>\n \u201cThe section below specifies that the bill shall not be interpreted as extending the Fed\u2019s authority to provide services directly to the public \u2014 meaning it cannot authorize endeavors like digital wallets, personal accounts, or anything approaching CBDC boundaries,\u201d she remarked.<\/p>\n Magazine: <\/strong><\/em>GENIUS Act reopens the door for a Meta stablecoin, but will it work?<\/strong><\/em><\/a><\/p>\n <\/div>\nCBDC issues hinder legislation<\/h2>\n
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Number of bills also a point of contention<\/h2>\n
House reconvenes Wednesday <\/h2>\n