The U.S. House of Representatives blocked a procedural vote on July 15, preventing formal consideration and discussion of three crypto bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. These measures were the centerpiece of what GOP lawmakers branded “Crypto Week,” aiming to introduce guardrails around stablecoins, clarify whether digital tokens are commodities or securities, and prohibit a central bank digital currency (CBDC).
The initiative collapsed when several conservative Republicans joined Democrats in rejecting how the legislation was packaged. Representative Marjorie Taylor Greene (R-GA) explained her opposition on social media platform X: “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.” Fox Business’ Eleanor Terrett reported:
Many of the House members who voted no today had concerns with the GENIUS Act possibly enabling a CBDC. However, there is language in GENIUS that would explicitly prohibit the Fed from creating a retail CBDC.
The bill states it shall not be construed as expanding the Federal Reserve’s authority to offer services directly to the public, such as digital wallets or personal accounts, effectively ruling out retail CBDC implementation.
Speaker Mike Johnson (R-LA) commented on the setback, indicating he intended to continue discussions with members and aimed to bring the package back for a vote soon. The market reaction was swift—shares of Circle Internet Group (NYSE: CRCL) dropped 4.6%, and Coinbase Global (Nasdaq: COIN) slipped 1.5% before both pared losses.
Anticipation had been building across Republican circles. President Donald Trump urged support on his social media platform, Truth Social, ahead of the vote. “The House will soon vote on a tremendous bill to make America the undisputed, number one leader in digital assets… This is our moment,” Trump stated, adding:
The GENIUS Act is going to put our great nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it. Digital assets are the future, and we are leading by a lot.
Senator Bill Hagerty emphasized the bills’ significance in a thread on X, calling the GENIUS Act “landmark bipartisan legislation to regulate stablecoins,” and the Anti-CBDC measure a necessary step to prevent government surveillance. He stressed: “The Senate is committed to finishing the job and passing a digital asset framework built by and for American values.”
The Federal Reserve has not indicated plans to issue a central bank digital currency but lawmakers continue to raise privacy and control concerns. While the legislative roadblock underscores persistent internal divisions, digital asset advocates note that the policy debate has reached a higher level of urgency and visibility. Industry participants remain optimistic that momentum in the Senate and broader institutional interest will drive eventual passage of a national crypto framework.
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