Crypto Week is officially back on track in Washington. On Wednesday, the U.S. House of Representatives narrowly voted to move forward with three major cryptocurrency bills — reviving the legislative push that had unexpectedly stalled just a day earlier.
With a 215–211 vote, lawmakers advanced the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), which aims to regulate dollar-pegged stablecoins and has already passed in the Senate. If approved in the House, the bill will head to President Trump’s desk for final signature.
🧾 More Than One Bill in Play
The House also progressed the Clarity Act, a bill that defines regulatory roles between the SEC and the CFTC for digital assets. Additionally, a separate bill seeking to block the Federal Reserve from directly issuing a central bank digital currency (CBDC) to individuals is also heading for a final vote.
📉 Tuesday’s Setback and Trump’s Intervention
Just 24 hours earlier, the momentum behind Crypto Week faltered when Republicans failed to unify around the bills. The defeat came amid GOP concerns that the GENIUS Act could open the door for a digital dollar. Prominent Republicans like Marjorie Taylor Greene and Chip Roy opposed the vote.
Following the collapse, former President Donald Trump stepped in, stating on Tuesday night that “key lawmakers” were now on board — a move that appeared to rally enough support for Wednesday’s rebound.
⚠️ Democrats Strongly Opposed
No Democrats supported the bills. House Financial Services Committee ranking member Maxine Waters labeled the legislation “dangerous” and warned that it would remove vital crypto oversight. She accused Republicans of handing Trump a “crypto con” tool.
Bottom Line:
With Crypto Week back in motion, the U.S. is inching closer to some of its most consequential crypto regulations yet. Whether this ends in reform or political clash remains to be seen.
Source: coinjournal.net
Published: 2025-07-17
