Several cryptocurrency regularisation bills backed by President Donald Trump connected Tuesday failed to wide a cardinal procedural hurdle successful the House of Representatives, dealing a large stroke to the crypto industry.
The bills cannot determination guardant until the House approves rules of statement for the legislation. The last tally of the astonishment ballot Tuesday was 196 successful favour and 223 against.
Thirteen Republicans voted with Democrats to artifact the authorities from moving forward.
It was unclear precocious Tuesday what the adjacent steps for the bundle would be, aft House Republican enactment abruptly decided against holding different ballot the aforesaid day.
The measures had been wide expected to pass.The nonaccomplishment of the regularisation during what is being billed arsenic "Crypto Week," was a uncommon lawsuit of House Republicans refusing to instrumentality absorption from Trump.
Republican leaders person not clarified yet whether a 2nd ballot would beryllium for an identical regularisation and the aforesaid bills, oregon whether members would marque changes to the bundle to fulfill GOP league members who opposed the existent motion.
Crypto-linked stocks turned little aft the ballot failed.
Storm clouds hover implicit the U.S. Capitol connected July 1, 2025 successful Washington, DC.
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Rep. Marjorie Taylor Greene, R-Ga., 1 of the Republicans who opposed the measure, wrote successful a station on, "I conscionable voted NO connected the Rule for the GENIUS Act due to the fact that it does not see a prohibition connected Central Bank Digital Currency and due to the fact that Speaker Johnson did not let america to taxable amendments to the GENIUS Act."
"President Trump included a prohibition connected CBDC successful his January 23rd enforcement bid and Congress indispensable besides see the prohibition connected CBDC successful the GENIUS Act," Greene wrote.
Trump had hailed "Crypto Week" during a station connected his Truth Social earlier Tuesday and urged each House Republicans to ballot "yes" connected the measure.
"The House volition soon VOTE connected a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER successful Digital Assets - Nobody does it better!" Trump wrote.
"The GENIUS Act is going to enactment our Great Nation lightyears up of China, Europe, and each others, who are trying endlessly to drawback up, but they conscionable can't bash it," helium wrote.
"Digital Assets are the FUTURE, and we are starring by a lot! Get the archetypal Vote done this day (ALL REPUBLICANS SHOULD VOTE YES!)," Trump continued.
— CNBC's Emily Wilkins contributed reporting
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