Trump’s ‘Crypto Week’ Set Back by House Vote

President Donald Trump’s declared “Crypto Week” faced a significant setback when the House of Representatives voted down a procedural measure crucial for advancing several cryptocurrency-related bills. The vote, which resulted in 196‑223 with a dozen Republicans joining Democrats in opposition, halted progress on legislation including the Genius Act (focused on stablecoin regulation), the Digital Asset Market Clarity Act (regulating the broader crypto market), and the Anti‑CBDC Surveillance State Act (blocking the issuance of a central bank digital currency by the Federal Reserve). Trump had promoted the legislation on his Truth Social platform, arguing it would position the U.S. as a global leader in digital assets. However, internal GOP divisions, including calls to consolidate the bill packages, contributed to the defeat. The failed vote caused a 3% dip in Bitcoin prices and declines in stocks of crypto-related companies like MicroStrategy, Coinbase, and Circle. Critics such as Rep. Maxine Waters warned the legislation could mislead investors and result in severe financial losses, accusing the Trump administration of promoting fraudulent practices. Majority Leader Steve Scalise may revisit the vote in the future.$BTC $TRUMP $XRP