Donald Trump Rallies House Republicans to Push Crypto Bills Back on Track

Key Points

1. The House previously blocked debate on the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act due to concerns about the Federal Reserve creating a central bank digital currency (CBDC).

2. President Trump met with House Republicans to rally support for these bills, which were part of the White House's 'Crypto Week' initiative.

3. The House voted 196–223 against the resolution, reflecting concerns among some Republicans about the GENIUS Act's limitations on stopping the Federal Reserve from creating a CBDC.

4. Some Republicans who voted against the bills include Ann Paulina Luna, Scott Perry, Chip Roy, Michael Cloud, Keith Self, Victoria Spartz, Andrew Clyde, and Marjorie Taylor Greene.

5. The Securities Industry and Financial Markets Association (SIFMA) urged the SEC to reject crypto firms’ plans to issue tokenized stocks under relaxed rules.