The U.S. House of Representatives' 'Crypto Week' is facing setbacks as the procedural vote to consider three important cryptocurrency bills was initially passed narrowly but then stalled. A small group of Republican lawmakers changed their votes, causing a deadlock in conducting final votes on bills including the GENIUS Act (legal framework for stablecoins), the CLARITY Act (legal framework for other crypto assets), and a bill banning the U.S. Central Bank from developing digital currency (#CBDC ).
Political conflicts and the fate of bills
The tense vote saw some Republican lawmakers initially vote against, then change to 'yes' under pressure from party leaders and President Donald Trump. However, they retracted their 'yes' vote in a second recorded vote, leaving the House floor to negotiate a deal to advance the bill in exchange for tougher language on banning CBDC.
This recorded vote has been stalled for hours as negotiations took place. Earlier, 13 Republican lawmakers voted against it to oppose the possibility of #GENIUSAct not clearly prohibiting the creation of a U.S. CBDC. President Trump summoned this group to the White House and later announced that he had convinced them to support the measure. However, Representative Marjorie Taylor Greene (R-GA), a Trump ally, stated she would not support the GENIUS Act because it does not 'prohibit CBDC or maintain people's control over their assets.' Although Greene ultimately switched her vote to 'yes' and persuaded other lawmakers, this group later retracted their 'yes' vote to exert pressure for concessions.
Currently, the fate of 'Crypto Week' remains uncertain, depending on whether this procedural vote passes or not.
