Learning Time: 2 minutes
- U.S. President Trump has in my opinion intervened to valid give a steal to for the GENIUS Act following a Conservative riot
- A key Apartment vote on the Act failed the day prior to this attributable to opposition from conservative Republicans
- The Apartment is now anticipated to switch forward with a standalone vote on the invoice, which would set apart stablecoin regulations
Donald Trump’s “Crypto Week” hasn’t started effectively, with the President compelled to intervene after a surprise riot from interior Republican ranks derailed the Apartment’s preliminary push to advance a situation of crypto bills. A vote on Tuesday failed 196–222, halting development on loads of crypto-centered proposals, including the commonly anticipated GENIUS Act. Now, thanks to relate intervention from Trump, eleven of the twelve Republican holdouts like agreed to give a steal to a recent procedural rule that will allow a vote on the GENIUS Act to proceed as a standalone measure.
Crypto Week Stalls
This week was as soon as speculated to impress a major milestone for digital asset regulations in the US, with the Apartment appealing to factor in a trio of crypto bills throughout what had been dubbed “Crypto Week.” But when loads of hardline Republicans joined by all vote casting Democrats the day prior to this blocked the preliminary procedural vote, it introduced each the crypto agenda and a defense appropriations invoice to a end.
The pushback regarded rooted in procedural considerations and the absence of language explicitly banning a U.S. central bank digital currency (CBDC). Among those opposing the vote was as soon as Representative Marjorie Taylor Greene, who posted on X why she had voted ‘no’:
I factual voted NO on the Rule for the GENIUS Act because it doesn’t encompass a ban on Central Bank Digital Forex and since Speaker Johnson did no longer allow us to put up amendments to the GENIUS Act.
People attain no longer desire a authorities-controlled Central Bank Digital Forex.… pic.twitter.com/NnkeIOH0dE
— Earn. Marjorie Taylor Greene🇺🇸 (@RepMTG) July 15, 2025
The riot highlighted the rising divisions interior the GOP over the answer to technique digital currency regulation, forcing Trump to step in and persuade dissenters to proceed with the GENIUS Act alone, presumably because it affords essentially the most attention-grabbing doable return for his crypto investments.
Trump’s Intervention Resets the Debate
In response to the failed vote, Trump held conferences with the neighborhood of dissenting Republicans and later posted on Truth Social to narrate that he had secured their give a steal to. Trump’s efforts appear to like appealing the ground for a recent rule vote, which might per chance well also happen as early as on the novel time, developing a recent vote on the stablecoin invoice. Speaker Mike Johnson is reportedly coordinating efforts to be particular the measure moves forward with out extra extend.
The GENIUS Act, short for Guaranteeing Requirements for Nationwide Funding and U.S. Stability, would, amongst other issues, require stablecoin issuers to shield 100% liquid reserves, put up to accepted audits, and note dual regulatory oversight. Handed by the Senate with bipartisan give a steal to, the invoice is viewed as the first severe try to give stablecoins a transparent shapely framework in the U.S.
Ought to unruffled the GENIUS Act circulate in the Apartment, it would impress a pivotal 2nd for the cryptocurrency commercial, which has long pushed for regulatory readability. The invoice’s development has already had an impact on markets, with Bitcoin impending $123,000 amid optimism of development, irrespective of it no longer impacting Bitcoin straight, though analysts mediate that institutional funding might per chance well also slide if Washington indicators that it’s lastly ready to set apart rules for digital resources.
