House Slams Brakes on Crypto Legislation as Trump Eyes US Digital Asset Supremacy
2025-07-16 00:56:13
Main Idea
The U.S. House of Representatives blocked a procedural vote on three major crypto bills, disrupting momentum for digital asset legislation, while Senate support and concerns over CBDCs and privacy persist.
Key Points
1. The House blocked a procedural vote on July 15, preventing formal consideration of the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act.
2. Opposition stemmed from concerns about the packaging of the bills and lack of amendment opportunities, as noted by Representative Marjorie Taylor Greene.
3. The GENIUS Act includes language prohibiting the Federal Reserve from creating a retail CBDC, addressing privacy and control concerns.
4. Senator Bill Hagerty emphasized the importance of the GENIUS Act for stablecoin regulation and the Anti-CBDC measure to prevent government surveillance.
5. The rejection impacted crypto-related stocks, with Circle Internet Group and Coinbase Global experiencing declines.
Description
The House blocked major crypto bills, but accelerating Senate momentum and surging institutional demand are reigniting hopes for transformative U.S. digital asset legislation. US Crypto Legislation Stalls in House, Disrupting Momentum on Digital Asset Rules The U.S. House of Representatives blocked a procedural vote on July 15, preventing formal consideration and discussion of three crypto
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