In a surprising development during what has been dubbed “Crypto Week,” three major crypto-focused bills failed to clear a key procedural hurdle in the U.S. House of Representatives on Tuesday, despite support from former President Donald Trump.
The vote, which needed a majority to move forward, ended with 196 in favour and 223 against. Notably, 13 Republicans broke ranks and joined Democrats in opposing the motion, marking a rare intra-party split on a priority issue backed by Trump.
The rejected bills included:
- The GENIUS Act, aimed at establishing clear regulations for stablecoins.
- The CLARITY Act focused on providing legal transparency for digital assets.
- The Anti-CBDC Act, designed to block the issuance of a U.S. central bank digital currency (CBDC).
Although all three bills had been expected to advance, they were unexpectedly stopped by a procedural vote—a type of preliminary measure that decides whether legislation can proceed to formal debate and vote. The reasons behind the opposition, particularly from within the Republican Party, have not yet been disclosed.
Industry participants and crypto advocates have expressed frustration over the lack of transparency. Despite this initial setback, congressional leaders indicated that the measures could be brought up again, potentially with revisions to win back support.
Meanwhile, Bitcoin (BTC) experienced a minor dip in reaction to the news, trading at $117,083—a 2.23% decline in the last 24 hours.
