In a surprising move, the U.S. House of Representatives has revived and advanced major crypto bills, passing a crucial procedural vote that had initially failed just a day earlier.
The shift marks a dramatic turn during Washington’s ongoing “Crypto Week,” driven by Republican lawmakers seeking to bring regulatory clarity to the digital asset space.
The new vote — 215 in favour and 211 against—allows debate to begin on a trio of bills: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act. These proposals cover stablecoin regulation, an oversight structure for crypto firms, and potential restrictions on a U.S. central bank digital currency (CBDC).
Short for Guiding and Establishing National Innovation for U.S. Stablecoins, the GENIUS Act mandates that all stablecoins in the country be backed by U.S. dollars or high-quality liquid assets. Issuers with more than $50 billion in circulation would face mandatory audits and transparency standards. The bill also outlines guidelines for stablecoins issued by foreign entities operating within the U.S.
While the bill gained traction after former President Donald Trump rallied GOP lawmakers in support, some Republicans remained sceptical, particularly due to the bill’s failure to fully prohibit a future digital dollar. Congresswoman Marjorie Taylor Greene, for instance, voted against the bill, warning it leaves “too much room” for a potential CBDC rollout.
Another central piece is the CLARITY Act, designed to divide regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It also introduces safeguards requiring crypto companies to segregate customer assets from operational funds and issue regular financial reports — a measure aimed at preventing FTX-like collapses.
Democrats, led by Rep. Maxine Waters, have pushed back against the bills, claiming they cater to special interests and reflect Trump-aligned crypto lobbying. Waters and others launched an “Anti-Crypto Corruption Week” campaign to counter Republican efforts and stall progress on what they view as industry-friendly legislation.
Trump’s reported behind-the-scenes intervention — including lobbying holdout Republicans — helped turn the tide on the second vote. Even so, five Republicans still opposed the motion, and Democratic resistance remains strong.
The crypto market reacted swiftly. Bitcoin (BTC) jumped nearly 2%, climbing from $116,447 to around $119,259 shortly after the news broke. That bounce comes after Bitcoin hit a recent high of $123,000 earlier this week.
Although this is just a procedural win, it represents an important step toward legislative clarity for the U.S. crypto industry — and signals that both sides of Congress are gearing up for a deeper debate on the future of digital finance.
