President Donald Trump ignites new momentum for the GENIUS Act with a last-minute comeback deal, reigniting hopes for sweeping digital asset regulation amid GOP internal upheaval.
Trump Announces Breakthrough on GENIUS Act
President Donald Trump announced on social media platform Truth Social on July 15 that after a failed procedural vote on the GENIUS Act earlier that day, he had secured renewed commitments from 11 of the 12 congressional Republicans needed to pass the bill’s rule. He shared:
I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.
“Speaker of the House Mike Johnson was at the meeting via telephone, and looks forward to taking the Vote as early as possible. I want to thank the Congressmen/women for their quick and positive response. MAKE AMERICA GREAT AGAIN!” Trump added.
The GENIUS Act, a key part of the administration’s digital asset push, was unexpectedly blocked in a 196–223 House vote after 13 Republicans crossed party lines to oppose the rule. The move stunned leadership and marked a rare public rejection of a White House-backed initiative during Trump’s new term. The bill was expected to establish a regulatory structure for stablecoins and other digital assets, but internal GOP resistance—focused on concerns over federal overreach and ties to Trump-linked interests—halted its momentum.
The U.S. House’s July 15 decision also disrupted two other crypto-focused bills: the CLARITY Act and the Anti-CBDC Surveillance State Act. These three proposals had formed the legislative centerpiece of what GOP lawmakers branded “Crypto Week,” aimed at defining digital asset oversight, determining whether tokens fall under commodities or securities law, and banning any issuance of a central bank digital currency.
The setback came after conservative Republicans objected to the structure of the legislative package. Representative Marjorie Taylor Greene stated on social media platform X: “I just voted NO on the Rule for the GENIUS Act because it does not include a ban on central bank digital currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act.”
