The U.S. House of Representatives passes procedural vote, cryptocurrency bill expected to be voted on tomorrow

Cointime news, July 17, according to reporter Eleanor Terrett, the U.S. House of Representatives narrowly passed the procedural rule vote with a score of 217-212, paving the way for the votes on key bills including cryptocurrencies and defense spending. The vote lasted nearly 10 hours, setting a record for the longest vote in the U.S. House of Representatives.

Some Republican lawmakers changed their positions multiple times within 24 hours, from opposition to support and then back to opposition, before ultimately returning to support. After the procedural vote was passed, House leadership promised to include anti-CBDC (Central Bank Digital Currency) provisions in the National Defense Authorization Act (NDAA).

The GENIUS Act and the possible CLARITY Act are expected to be submitted to Congress for final voting as early as tomorrow. The GENIUS Act is seen as an important step in modernizing financial regulation, which includes strict reserve requirements for stablecoin issuers and provisions limiting CBDC development.