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U.S. House Sees Hiccup in Crypto Bills Procedural Votes as Freedom Caucus Objects

2025-07-15 19:32:18

U.S. House Sees Hiccup in Crypto Bills Procedural Votes as Freedom Caucus Objects

Main Idea

The U.S. House faced procedural delays in passing crypto-related legislation, with some Republicans joining Democrats to vote against a motion, while President Trump urged support for the GENIUS Act to advance U.S. crypto development.

Key Points

1. A procedural vote in the U.S. House on crypto legislation was disrupted as more than a dozen Republicans joined Democrats in voting against the motion.

2. President Donald Trump encouraged Republicans to support the GENIUS Act, emphasizing its role in maintaining U.S. leadership in crypto development.

3. Cryptocurrencies like bitcoin (BTC) and ether (ETH) briefly dipped by about 0.5% on the news but mostly recovered.

4. Circle (CRCL), a stablecoin issuer, saw its stock drop 5.3% but remains significantly higher since its IPO last month.

5. Procedural disruptions are common in legislative processes, as seen when Democrats previously delayed the GENIUS Act in the Senate to address concerns.

Description

As it sped into Crypto Week on Tuesday, the U.S. House's process toward passing digital assets bills ground to a sudden halt over a procedural vote as members of the House Freedom Caucus objected to the way some of the legislation has developed under Senate dominance. The misfire on the procedural vote quickly slammed the crypto markets over uncertainty about the good news expected this week as the House has moved toward passage of two of the industry's top priorities. The legislation still has ...

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