Daniel Walker
Plans to advance two of the most significant crypto-related bills in US history were thrown into uncertainty on Tuesday, after the House of Representatives failed to approve a procedural motion needed to move forward.
According to the House Press Gallery, no additional votes were scheduled for the remainder of the day, halting progress on the GENIUS Act and Clarity Act, both central to the much-anticipated โCrypto Weekโ initiative.
Earlier in the afternoon, lawmakers voted 196โ223 against adopting the rule that would have allowed debate on three major pieces of legislation. Initially, it was expected that a second attempt would be made by 5 p.m. ET, but that vote never occurred.
GENIUS and Clarity Acts: High Stakes, Uncertain Timeline
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, already passed by the Senate, would introduce sweeping requirements for stablecoin issuers. These include:
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Full asset backing with U.S. dollars or equivalent liquid reserves
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Mandatory annual audits for issuers exceeding $50 billion in market cap
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Clear foreign issuance rules for digital dollar equivalents
The bill had been on track to reach President Donald Trump’s desk by the end of the week. Meanwhile, the Clarity Act proposes a comprehensive regulatory framework for digital assets, clearly defining the roles of the SEC and CFTC, and requiring disclosures and fund segregation for crypto platforms.
Additionally, the House had planned to review a separate bill introduced by Majority Whip Tom Emmer, aiming to prohibit the Federal Reserve from directly issuing a central bank digital currency (CBDC) to individual Americans.
Political Friction and Republican Opposition Create Turbulence
The delay was largely fueled by Republican opposition to the procedural rule, with dissent from lawmakers including Reps. Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna, according to The Hill.
Rep. Greene later explained her โnoโ vote on X (formerly Twitter), saying the GENIUS Act lacked a direct CBDC ban and failed to allow amendment submissions.
“Americans do not want a government-controlled Central Bank Digital Currency,” Greene posted.
However, Cody Carbone, CEO of the Digital Chamber, countered this claim, pointing out that Rep. Emmerโs bill specifically bans a CBDC and works in tandem with the GENIUS Act.
โIf members want to block CBDCs while enabling U.S. innovation, the path forward is passing GENIUS,โ Carbone told PRIME.
He added that the bills could still advance on Wednesday or Thursday, pending further discussion. Sources also speculated that President Trump may get personally involved to accelerate the legislative process, given his interest in the GENIUS Act.
Crypto Week Hits a Roadblock โ But Not the End
Despite the setback, optimism remains among industry advocates.
โIโm confident these bills will move forward after further education and outreach,โ Carbone said.
As market watchers await updates, the crypto industry now finds itself once again in a familiar position โ caught between growing political support and internal Congressional divisions.
