Crypto Week Update: GOP Fast-Tracks Bills Amid CBDC Clash
The post Crypto Week Update: GOP Fast-Tracks Bills Amid CBDC Clash appeared on BitcoinEthereumNews.com. Key Notes A procedural vote to advance three major crypto bills stalled after GOP infighting over a CBDC ban. The GENIUS Act, which already passed the Senate, is prioritized for fast-tracking to Trump’s desk. President Trump personally intervened to broker support, reviving hopes for House passage during “Crypto Week”. . What began as a bold Republican push to cement the United States as the global crypto leader turned chaotic on Capitol Hill this week, as internal party divisions and fears over CBDCs threatened to derail progress. Despite the turbulence, GOP leadership, with a late-night assist from President Donald Trump, is attempting to fast-track three landmark crypto bills before Congress recesses in August. Crypto Week Aims Clarity for Digital Assets Dubbed “Crypto Week” by House Republicans, the initiative is centered on advancing a trio of bills. The GENIUS Act, which provides regulatory clarity for stablecoins; the Digital Asset Markets Clarity Act (CLARITY Act), aimed at establishing a comprehensive market structure for digital assets; and the Anti-CBDC Surveillance State Act, which seeks to ban the creation of a Federal Reserve-backed digital dollar. But efforts stalled dramatically on Tuesday when 13 Republican lawmakers, in an unexpected move, joined Democrats to block a procedural vote needed to bring the bills to the House floor. At the heart of their opposition was the absence of an explicit ban on CBDCs in the GENIUS Act, a red line for several conservative members. Trump Intervenes as Crypto Stocks React President Trump, a vocal proponent of the bills, summoned 11 of the 12 dissenting Republicans to the Oval Office. “After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump posted on his social media platform on July 15, signaling a potential breakthrough. House Speaker Mike Johnson, who joined the meeting…
The post Crypto Week Update: GOP Fast-Tracks Bills Amid CBDC Clash appeared on BitcoinEthereumNews.com.
Key Notes A procedural vote to advance three major crypto bills stalled after GOP infighting over a CBDC ban. The GENIUS Act, which already passed the Senate, is prioritized for fast-tracking to Trump’s desk. President Trump personally intervened to broker support, reviving hopes for House passage during “Crypto Week”. . What began as a bold Republican push to cement the United States as the global crypto leader turned chaotic on Capitol Hill this week, as internal party divisions and fears over CBDCs threatened to derail progress. Despite the turbulence, GOP leadership, with a late-night assist from President Donald Trump, is attempting to fast-track three landmark crypto bills before Congress recesses in August. Crypto Week Aims Clarity for Digital Assets Dubbed “Crypto Week” by House Republicans, the initiative is centered on advancing a trio of bills. The GENIUS Act, which provides regulatory clarity for stablecoins; the Digital Asset Markets Clarity Act (CLARITY Act), aimed at establishing a comprehensive market structure for digital assets; and the Anti-CBDC Surveillance State Act, which seeks to ban the creation of a Federal Reserve-backed digital dollar. But efforts stalled dramatically on Tuesday when 13 Republican lawmakers, in an unexpected move, joined Democrats to block a procedural vote needed to bring the bills to the House floor. At the heart of their opposition was the absence of an explicit ban on CBDCs in the GENIUS Act, a red line for several conservative members. Trump Intervenes as Crypto Stocks React President Trump, a vocal proponent of the bills, summoned 11 of the 12 dissenting Republicans to the Oval Office. “After a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump posted on his social media platform on July 15, signaling a potential breakthrough. House Speaker Mike Johnson, who joined the meeting…
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