The U.S. House of Representatives initially blocked procedural votes for three key cryptocurrency bills due to internal Republican disagreements, but former President Donald Trump intervened, prompting a new vote.
The U.S. House of Representatives rejected a procedural vote with 223 against and 196 in favor, blocking the advancement of three crucial cryptocurrency regulatory bills. Republican internal conflicts, particularly objections from the House Freedom Caucus, were instrumental in this outcome. Members opposed the GENIUS Act, arguing it lacked a definitive ban on central bank digital currencies (CBDCs).
Following the vote, former President Trump swiftly met with dissenting Republican representatives in the Oval Office. Trump announced afterward that the representatives agreed to vote in favor in the next session. House Speaker Mike Johnson thanked Trump for his assistance and reaffirmed his support for the passage of these laws. The renewed vote is expected to take place on Wednesday.
